Chartimistic

Chartimistic

Weight Watchers has pulled back recently where it seems to have found support along a previous resistance level, the 50-day EMA line, & the VPVR heavy volume bars. The RSI indicator is above 50 & WW has shown some relative strength the last month or so. I am focusing on the first two price targets noted on the chart. We'll see if it ends up having enough to get...

Chartimistic

The SPDR S&P Retail ETF closed above the resistance line yesterday but is seeing continuation of that breakout early in today's session. A close above the previous resistance line would confirm the breakout but a price above $45.70 would be better as price has rejected from there a couple of times prior.

Chartimistic

Dynatrace has not been actively traded for very long but the daily chart has created a cup & handle pattern which just needs a breakout for confirmation. The backside of the pattern can be interpreted as a bull flag that would have broken out during today's trading session. Notice how the RSI held the 50 level as well as the stock exits an oversold condition. The...

Chartimistic

Colfax Corporation has been trading within an ascending channel since early October. It briefly opened below the channel support line on December 3rd but found support along the 50-day EMA line to regain the channel. An intermediary symmetrical triangle pattern was created from the November 1st top & we have just seen a bullish breakout of this symmetrical...

Chartimistic

Scientific Games created a bit of a cup since early March. The breakout from the cup pattern in early November has since created a bit of a handle in the form of a bullish wedge with prices breaking out of this pattern on December 6th. The stock price has bounced off the 50-day EMA as well. $36.00 is my initial price target.

Chartimistic

Church & Dwight's stock popped up today on my daily bearish scan but I have had it on a weekly bearish watchlist since mid-August when I noted the RSI bearish divergence. Since then, the price has remained within its descending channel. With this name showing up on my bearish daily scan it may be getting ready for another leg down. $63.10 is the area where the...

Chartimistic

This stock actually popped up on one of my daily scans that I run each day, and it came up on my BEARISH scan. However, once I zoomed out to the weekly chart I actually really like this as a weekly bullish play. The weekly chart is trying to exit an oversold condition with little volume resistance overhead. It has broken out of a bullish wedge pattern after...

Chartimistic

The daily chart of JetBlue created a cup & handle type pattern but the price has broken down today out of the symmetrical triangle pattern it had created in recent days. The price has come close to touching my initial price target before finding some buyers again. Note that the initial price target is near the 200-day EMA line as well, an important level for...

Chartimistic

Tesla seems to be exiting an oversold condition as it looks to begin its next bullish move. Even during its recent pullback, the price respected the support line while the RSI never dipped below 50. Both are good signs of bullish strength. The stock price will have to clear a gap down that occurred on November 22nd but assuming it can do that I have my three...

Chartimistic Updated 

SPY gapped up this morning on the open but has been pulling back since around 10:30 AM (right around the time London closes). Since around 12:30 PM it seems like it has been trying to create a base. I am looking for a move above the previous candles high but so far the price has managed to hold the gap level from this morning. Should the price continue higher I...

Chartimistic

The iShares S&P Small-Cap ETF has been in a bearish wedge pattern on its daily chart since early October. The price is once again testing the resistance line. The price is near an overbought condition while generating a bearish divergence on the RSI indicator. I am targeting the support line of this wedge pattern first. If the price is able to break down through...

Chartimistic

Huntington Bancshares broke out of an ascending triangle pattern last week & has continued to see its bullish momentum continue. The stock is showing relative strength across the board whether talking about the SPY or its sector/industry. I would like to see it hold above the breakout level but I have my two initial price targets noted on the chart.

Chartimistic

Freeport-McMoran is attempting to break out of a bullish wedge pattern. There is a lot of options activity in this name with the February 21 $14 and the December 13 $12.50 calls. Note the bullish divergence just prior to its recent bullish move. We want to see the stock hold above the break out level. If the price can hold I am targeting $13.90 as my initial price target.

Chartimistic

The stock price created a bull flag pattern, more visible on the weekly chart. This is the daily chart which provides a zoomed-in look as the price has consolidated following its flag breakout. Now that the bullish momentum seems ready to continue I have labeled my three potential price targets I'm aiming at. Note the lack of established volume above the current...

Chartimistic

The market gapped up again with the bulls still in control easily allowing the price to move past the three established price targets. Once again, let's see how far the bulls want to take it.

Chartimistic

The market has respected the gap up low from this morning as has continued moving higher today despite the random China news coming out. The price is nearing the first price target. I will take some profit before the market closes just due to the stochastic being overbought but this market does not want to be stopped. May begin seeing a bit of a pullback in the...

Chartimistic

The stock gapped up on October 21st & created a bull flag pattern. It broke out of this flag pattern on November 6th on an earnings announcement. The former resistance line of the flag pattern looks to have become support as the stock price is trying to move back up from this level. Price target levels are noted on the chart.

Chartimistic

The stock is exiting an oversold condition while having held a +50 RSI level & respecting the rising trendline. A couple of price targets have been labeled.