A Great Stay For Less Than $30

Hilton Worldwide (HLT) completed a 6 months Complex Head & Shoulders Bottom after breaking out and finally closing above 23.10.

Initial target is $25.7. Stop loss @ 22.70






Newmont Basing For Reversal

Newmont mining (NEM) has been in the news lately on M&A rumors. Looking at the stock reveals a 5 months Head & Shoulders bottom. Interesting the neckline intersects with NEM  200MA. A breakout should be significant with an implied target of $31.80. Note that NEM reports earnings tomorrow Apr 24th.

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What The 200MA Means For The Aussie

The Aussie dollar AUD/USD completed a Head & Shoulders bottom by closing yesterday above 0.909. But the 200MA is currently capping its ascent for the second time, giving it some resistance importance. So a break above the 200MA at 0.91250, would provide a conservative entry. Implied target is 0.950.


Aussie ETF (FXA) traders have the pattern neckline at $91.20 and the 200MA at $91.80. Implied target of FXA is $95


BPZ Resources Attempting A Reversal

BPZ Resources (BPZ) completed a one year Double bottom formation closing above $2.60. Interestingly, the second bottom has morphed into a 5 months H&S Bottom which has broke out earlier. Volume also has increased 3X giving more confidence in this long trade and a possible reversal and the end of BPZ 5 year decline. Initial target is $3.60. Stop loss @ $2.40



The big picture



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Treating Prostate Cancer

Dendreon Corp (DNDN) is a biopharma co. developing immunotherapeutic meds for cancer patients. More on their Provenge drug and how it works which is interesting here

From the chart perspective, DNDN is forming a 6 months Head & Shoulders bottom with 3.60 as the neckline. Will selling Provenge in Europe act as the reversal ? Implied target is $5

Do note the gap above which usually serves as resistance.


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An Interesting REIT Chart

Mack-Cali Realty (CLI) will complete a 6 months Heard & Shoulders bottom by closing above 22.50.

Implied target is $26 or the long term resistance trend line shown on the weekly chart. Stop loss @ 21.90.





Will Palladium & Platinum Follow Gold & Silver?

As you already know, both Gold & Silver have broken out of their consolidation patterns, but what about the other less talked about metals; Palladium & Platinum ?

Palladium is currently consolidating in a 4 months contracting triangle, which way the breakout will occur is still vague, so keep 765 & 685 levels on your watch list


Platinum is also trading in a triangle for the last 6 months, but what is interesting is the incomplete Head & Shoulders bottom that is forming inside which gives indication that a breakout to the upside is much more likely. Watch 1480 level.


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