Thursday, July 31, 2014
Tesla (TSLA) will report earnings later today
You can read a very good article from Bloomberg about what specific news are expected from Tesla.
What is price telling us ?
Uptrend intact (long term), trading signals are still bullish
Mid term trend? Lower highs ...
Since I expect high volatility, will again take the same scenario as I did with Twitter, and apply it to Tesla.
Warning ; Apply those scenarios with high volatile stocks that the media loves only!
Very short term call options
Mid term put options ; why ? Huge PS ratio and high Forward PE
Wednesday, July 30, 2014
Bank of America (BAC) daily chart
Stuck in a real tight channel, I hope we are NOT facing an inverted ABC pattern (see what the pattern means on the right hand side of this blog)
Pay also attention to the EMA's settings on the top left of this chart
Light green arrow scenario is a possibility if price manages to break above 16, 16.5 in the next few days.
Light blue arrow scenario ? Gut feelings say no, unless we get some real bad news from the financial sector
Tuesday, July 29, 2014
Monday, July 28, 2014
Sunday, July 27, 2014
Saturday, July 26, 2014
Friday, July 25, 2014
Is Twitter (TWTR) facing an ABC pattern ?
You often read on this blog that I refer to a pattern I call the ABC pattern, You can call it the 123 pattern as well, does not matter, its just a simple pattern that works pretty well "AFTER" (notice the big after) a major up or down trend
There is a logical reason behind this simple pattern, yes people, news, fundamentals, real catalysts are needed to change the "big picture".
In mid June the pattern started to take shape, then heading to "A" where the good news came out.
Price pulled back to find a reliable support? At "B"
The B level seems to confirm that former Gap level ; So how reliable is B? We shall soon find out.
C basically means that price breaks above A, thus confirming a real bullish reversal