1/9/18

Nothing worked out too well today.  $FLIR popped as I expected, but it never got a close above it’s first 5min candle.  $IGT couldn’t sustain it’s pop.

$FB and $HD both had 5min candles that closed above their first 5min candle, but I chose to get into $HD (two 195 strike February calls) as it was the first stock to signal a buy.  I was up for a short time, but now down 40 cents, which isn’t too bad as my risk is low.  My stop will be the low of the first 5minute candle from today’s trading session.  Targets remain unchanged.

Potential For Breakouts:

$AAPL:  $AAPL still looks poised for a breakout.  Targets remain unchanged.  AAPL

$BABA:  I’m interested in $BABA if it can break out above $191.75.  Target1: $199.14  Target2: $208.75.BABA.png

$NKE: $NKE in a nice up-trend, poised to break out.  However with the overhead resistance above Target 1, I don’t love the trade.  Breakout: $65.23  Target1: $67.98  Target 2: $71.53.NKE.png

$PYPL:  $PYPL was in an up-trend, had a healthy pull-back and now looks poised to run further, as MACD turns up, if it can crack $79.39.  Target 1: $82.27  Target 2:  $86.02PYPL.png

Breaking Out:

$KORS:  $KORS has nearly doubled since July, but recently went into a “resting” or “sideways pattern”.  Although the Stochs and RSI indicate overbought and MACD is pointing down, the stock is still pushing higher.  There is still room for it to get back to and beyond it’s three year high at ~$73.  MACD is trying to turn back up.  I think there is still more room to run, especially if MACD turns up.  Target 1: $68.91   Target 2:  $74.82KORS

$WMT:  Good old Walmart has broken out from it’s holding pattern from the past few months.  I like this trade a lot assuming we get a close over the first 5min candle tomorrow.  Target 1:  $103.85 Target 2: $108.69  WMT

Target 1 Hit

$FB and $NFLX:  Both $FB and $NFLX hit their first targets today.  Depending on your risk plan, it may not be too late to get into these to see if they reach their second targets of $193.73 and $222.24, respectively.FB

NFLX

 

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1/8/18 – New Year New Approach

It’s been over a year since I wrote on my blog, but one of my new year’s resolutions is to take more time studying stocks and making proper investments and trades.  Today’s blog will look at some stocks that are breaking out, others that are close to breaking out, another in a bullish continuation pattern and finally one risky, but interesting stock.  So here we go:

Breaking Out:

$FB:  $FB has broken out from it’s short term channel and is moving up.  Target 1:  188.34, Target 2:  193.73.  FB

$HD:  I see HD as a little risky as it’s been in a steady upward trend for a while now.  Not to say that it couldn’t continue, but you may want a tight stop if you’re planning on getting in.  Target1:  $193.29  Target2: $202.27.HD

$MA:  $MA had a great day on Friday and cleared through the first target of $158.25.  Since it’s already through the first target, I would consider a small position to see if it can reach target 2:  $163.12  MACD is rather flat and RSI is high as well.  Be careful here.MA

$NFLX:  Target1: $212.36, Target 2: $222.24NFLX

$FLIR:  This is probably my favorite breakout play of the 5 breaking out stocks I’ve identified since it’s been consolidating for the last few weeks.  I would wait for confirmation at the open tomorrow before entering (i.e. when looking at a daily 5min chart, ensure the we get a close ABOVE the close of the first 5min candle.  This isn’t a fool proof method, but it’s rather reliable.  Target 1: $50.67  Target 2: $53.95FLIR

Breakout Potential:

$AAPL:  $AAPL has been consolidating the last few weeks.  If it closes above $176.34, it could reach Target 1: $182.13 and Target 2:  $189.59AAPL

$IGT:  $IGT is an interesting play.  It had a strong day on Friday and while it has not broken out, it has bounced off of the 50% FIB re-tracement and is following an upward trend line.  If you’re comfortable getting in now with a tight stop below the low on Thursday, it could pay off nicely.  Or you could choose to wait until it breaks out and closes above $29.40.  Target 1:  31.30  Target  2: 33.76IGT

$SBUX:  I’m not in love with this trade since there is some resistance above Target 1: ($61.13).  Target 2 would be $62.58 SBUX

Trending:

$DAN: This stock has been in a solid up trend since July 2016 off of it’s low of $9.80.  Target 1: $34.93  Target 2: $36.75.  OR, this could be a stock you want to hold onto.   Also notice that MACD is turning up, Stochs are pointed up, as is RSI.  DAN

Risk and Reward

$VRX:  This is a pharmaceutical stock, which are typically risky by nature, $VRX being no exception.  A few years ago $VRX was ~$260 and fell over time down to $8.31.  It’s currently at $23.85.  I’m not saying it will get back to $260 and while there’s some overhead resistance to watch out for (see chart below), there is some potential for this stock to grow.  Proceed with caution, but keep it in mind.VRX