TechnicallyCorrect

TechnicallyCorrect Jul 25, 2021

NYSE:QGEN weekly gave a bullish engulfing at the 5 and 20 EMA crossover along with MACD crossing up. This is after a triple bottom process around $46.

TechnicallyCorrect Jul 24, 2021

NYSE:CHGG weekly is ready to continue its uptrend. Last week gave a very bullish outside engulfing bar right as the 5 EMA crossed the 20 EMA. It is a very strategic spot and it is aligned with the MACD crossing up as well.

TechnicallyCorrect Jul 22, 2021

NASDAQ:PTON has formed an inverse head and shoulder pattern and looks ready to break the neckline. I like the price action in the last few days in conjunction with the MACD which is just about to cross positive.

TechnicallyCorrect Jul 20, 2021

NASDAQ:HAIN tried and failed to close under the 200 EMA 4 times. Now it has broken the upper trend line and MACD has turned positive with today's outside bullish engulfing bar. I like it for a buy but I am going to wait to see if we get a small inside day tomorrow because a rest day would make the setup even better.

TechnicallyCorrect Jul 18, 2021

AMEX:IWM weekly looks very concerning as it may have formed a double top. Last week's big down bar cut through the 20 EMA and the trendline. I expect more follow through to the downside in the near future.

TechnicallyCorrect Jul 18, 2021

NASDAQ:REGI daily is ready for a buy after a long process of rounded bottoms and now a trendline break with MACD confirmation. Buy above Friday's high at 65.08 Stop loss under July 8th low at 57.90 Profit target is just under ATH at 116.90 Risk/Reward is 7.22 Can definitely pick a more modest profit target with a smaller risk reward if you want. Tailor to...

TechnicallyCorrect Jul 18, 2021

NYSE:K daily long setup: Over the last few weeks prices have filled in the gap made on the May 6th earnings and then formed a double bottom at that support level. On Friday prices broke the top trendline and MACD has crossed positive. Buy taking out Friday's high at 64.57 Stop Loss under double bottom at 62.41 Profit Target 72.78 Risk/Reward 3.8

TechnicallyCorrect Jul 14, 2021

AMEX:XLE has formed a head and shoulders top. It broke the neckline on July 7 and today it failed again after retesting the neckline. Looks like a good shorting opportunity.

TechnicallyCorrect Jul 13, 2021

NYSE:IFF looks like it has run out of steam. It used up a lot of energy just to make the recent new (barely) high and now it has broken the trendline and looks ready for a short. MACD is negative and is accelerating.

TechnicallyCorrect Jul 12, 2021

NYSE:YUM looks bullish as it broke the trendline and was able to hold above it today. I expect it to at least retest the previous highs at $122.

TechnicallyCorrect Updated  Jul 12, 2021

Keep an eye on NASDAQ:MAR this week. It looks like it is getting ready to break out. A small inside day tomorrow would make for a perfect entry setup.

TechnicallyCorrect Jul 11, 2021

NASDAQ:NTRA weekly long setup: Entry above last week's high at 121.25 Stop loss under last week's low at 112.63 Profit target 169.03 Risk/Reward 5.54

TechnicallyCorrect Updated  Jul 11, 2021

NYSE:DIS broke the down trend line and looks ready to take off. It gave a small retracement bar today which gives us a perfect spot for an entry at $180.09 The stop loss should be under the local low at $170.31 The profit target is the ATH at $203 Risk/Reward Ratio of 2.3 could be better but good enough with this clean of a chart.

TechnicallyCorrect Jul 11, 2021

NYSE:LMT long setup: Entry above Friday's high at 384.89 Stop Loss under June 29th low at 372.75 Profit target 442.03 Risk/Reward 4.71

TechnicallyCorrect Jul 8, 2021

NYSE:CALX gave one of my favorite bars today which I like to call a Death Star. It is an outside bearish engulfing bar that tried (and failed) to make a new high. It is one of the worst bars you can see at the top of a chart. This one also broke out of the top of the triangle (and failed) and then broke the bottom of the triangle and closed under the trendline...

TechnicallyCorrect Jul 7, 2021

NYSE:MGM has a big rounded top pattern that looks ready to break. Today's bar pierced through the trendline convincingly and I think it is ready for a big drop.

TechnicallyCorrect Jul 5, 2021

NASDAQ:TTD weekly looking very bullish if it can take out the high of last week's bar.

TechnicallyCorrect Jul 5, 2021

NASDAQ:MTCH weekly broke out of a bullish pennant and then gave a small inside bar . If it breaks above the high of last week's bar, it should have smooth sailing to new all time highs. Notice the MACD confirmation as well.