Thursday, June 20, 2013
AAPL Update
AAPL - Waited patiently for a month to break the shake fest pattern, it is key time now. A decisive break below 419 opens the door for bears to begin their slaughter fest. If bears fail then counter trend bulls will come and contest at this Major support region again. It is a very clear support vs resistance chart now. The show must begin, patience pays well.
Thursday, May 23, 2013
AAPL, GOOG, GS and PCLN Technical Analysis
AAPL: Continuing the shake fest, must be patient.
GOOG: Train support has been violated, trade the bear levels. Remember the ongoing 20EMA daily acts as huge support. Look at the support levels:
GS: It has reached the $164 weekly resistance, very nice run since the $151 and $159 trigger lines. It has now violated hourly 20EMA train support.
PCLN: Reached $800 support already, first time 20EMA is a huge support. Look at the levels:
Support levels:
When a support breaks decisively, the immediate target is the next support line, vice versa. Keep it simple.
GOOG: Train support has been violated, trade the bear levels. Remember the ongoing 20EMA daily acts as huge support. Look at the support levels:
GS: It has reached the $164 weekly resistance, very nice run since the $151 and $159 trigger lines. It has now violated hourly 20EMA train support.
PCLN: Reached $800 support already, first time 20EMA is a huge support. Look at the levels:
Support levels:
When a support breaks decisively, the immediate target is the next support line, vice versa. Keep it simple.
Wednesday, May 22, 2013
AAPL, GOOG and PCLN Technical Analysis
AAPL: Nothing has changed, it is still a shake fest. Patience pays well.
GOOG: Train still above the hourly 20EMA support, must continue to trust price only. Again, remember this trains are bullish until they violate support.
PCLN: The extended "easy" bull train has come to an end as it closed below the hourly 20EMA support. It is now in a shake fest/breakdown zone, which means bulls are going to look elsewhere for better setups. Ride trains while they last and adjust to market dynamics - it was an amazing ride.
In the following charts, you can see the ascending triangle failed when it broke below the breakout base and then confirmed it as a rising wedge instead.
GOOG: Train still above the hourly 20EMA support, must continue to trust price only. Again, remember this trains are bullish until they violate support.
PCLN: The extended "easy" bull train has come to an end as it closed below the hourly 20EMA support. It is now in a shake fest/breakdown zone, which means bulls are going to look elsewhere for better setups. Ride trains while they last and adjust to market dynamics - it was an amazing ride.
In the following charts, you can see the ascending triangle failed when it broke below the breakout base and then confirmed it as a rising wedge instead.
Tuesday, May 21, 2013
AAPL, GS and PCLN Technical Analysis
AAPL: We're above the short-term bull trigger line, it is bullish biased now. However, it has a lot to prove because we are near Major Resistances. Can't do anything swing wise yet, only day trade these tactic levels.
GS: Huge runner, ride it while it lasts, remember next level resistance is $164
PCLN: This train just doesn't know how to stop or slow down, beautiful
GS: Huge runner, ride it while it lasts, remember next level resistance is $164
PCLN: This train just doesn't know how to stop or slow down, beautiful
Monday, May 20, 2013
AAPL, GOOG and GS, NFLX and PCLN Technical Analysis
AAPL: Not much to say, price is still below the 5/15/2013 high resistance and this is still short-term bear biased until then.
GOOG: Same target at $925 as it's still above support level, it's a bull train until it violates the trend
GS: Last resistance at $159 is almost hit exactly, next resistance is at $164 when price confirms a decisive breakout at the 159 resistance. Patience paying well.
NFLX: Out of play now as it got rejected near the $250 resistance
PCLN: We're way above the 100% measure move in premarket right now. Trim and trail bull train.
GOOG: Same target at $925 as it's still above support level, it's a bull train until it violates the trend
GS: Last resistance at $159 is almost hit exactly, next resistance is at $164 when price confirms a decisive breakout at the 159 resistance. Patience paying well.
NFLX: Out of play now as it got rejected near the $250 resistance
PCLN: We're way above the 100% measure move in premarket right now. Trim and trail bull train.
Warning again: Be cautious with these bull trains once they violate support, we're overextended on price.
Thursday, May 16, 2013
AAPL, GOOG, GS, NFLX and PCLN Technical Analysis
AAPL: Today's action is a reminder about the importance of price only
action. Even though we mentioned the Fast and Furious Oversold setup
yesterday it took until near the end of the trading day to be
confirmed.
It was a pretty easy classic textbook trending day that consisted of breaking lows and reaching the next level support. See charts for further explanations.
As mentioned before, I sometimes do intraday updates on another site during market hours. Example: http://bbs.cobrasmarketview.com/viewtopic.php?f=2&t=920&start=40#p130530
GOOG: Impressive bull train, gapped up to 100% measure move which is way above the 61.8% which we believed in. Added new target at roughly $925
GS: Target has been reached, next resistances are 157 and 159.
NFLX: Up 6 days in a row, above our expectations. Another 100% measure move has been reached, next resistance is 250.
PCLN: Same thing like NFLX, it's been up 6 days in a row - truly amazing. New 100% measure move is to roughly $819.
Warning: For the GOOG, NFLX and PCLN bull trains, follow the trend until they violate support but stay on full alert and be cautious ahead because prices are getting overextended. Do not become complacent. Enjoy the trains :)
It was a pretty easy classic textbook trending day that consisted of breaking lows and reaching the next level support. See charts for further explanations.
As mentioned before, I sometimes do intraday updates on another site during market hours. Example: http://bbs.cobrasmarketview.com/viewtopic.php?f=2&t=920&start=40#p130530
GOOG: Impressive bull train, gapped up to 100% measure move which is way above the 61.8% which we believed in. Added new target at roughly $925
GS: Target has been reached, next resistances are 157 and 159.
NFLX: Up 6 days in a row, above our expectations. Another 100% measure move has been reached, next resistance is 250.
PCLN: Same thing like NFLX, it's been up 6 days in a row - truly amazing. New 100% measure move is to roughly $819.
Warning: For the GOOG, NFLX and PCLN bull trains, follow the trend until they violate support but stay on full alert and be cautious ahead because prices are getting overextended. Do not become complacent. Enjoy the trains :)
Wednesday, May 15, 2013
AAPL, GOOG, GS, NFLX and PCLN Technical Analysis
AAPL: Price drifted down as expected and both targets have been reached now. Expect further weakness tomorrow into $437-439 with a Major Support at the $435 region. Also, AAPL has a Fast and Furious Oversold Setup incoming so expect a rebound when reversal candle confirms in real time. Trust price only, targets will follow you.
GOOG: Amazing bull train really, gray target has been reached now and we've almost reached the ascending triangle breakout. The revised 100% measure move is 897, not the roughly $895 number we talked about a few days ago. 61.8% target is at 890.6, only believe in this right now. Let price and momentum dictate our decisions. Continue to trim and trail, keep enjoying the free bull train.
GS: No surprises here, we talked about this during the Sunday update. Today, price went above our trigger line so it confirmed the new bull leg up. We're also almost at our first target already. If close above this target then expect the 157->159 resistances next.
NFLX: Targets have been reached, most likely needs time to consolidate now because it's up 5 days in a row. Have a new target in place if it continues and breaks above $236.6. Just a reminder, the 240-250 area is the next major resistances on the weekly scale. After this consolidation period, we'll wait for a breakout to take us there. Patience pays fat.
PCLN: Target has been reached, it's up 5 days in a row as well and it's too near the $800 even number pivot resistance. Likely time for consolidation, patience pays well.
GOOG: Amazing bull train really, gray target has been reached now and we've almost reached the ascending triangle breakout. The revised 100% measure move is 897, not the roughly $895 number we talked about a few days ago. 61.8% target is at 890.6, only believe in this right now. Let price and momentum dictate our decisions. Continue to trim and trail, keep enjoying the free bull train.
GS: No surprises here, we talked about this during the Sunday update. Today, price went above our trigger line so it confirmed the new bull leg up. We're also almost at our first target already. If close above this target then expect the 157->159 resistances next.
NFLX: Targets have been reached, most likely needs time to consolidate now because it's up 5 days in a row. Have a new target in place if it continues and breaks above $236.6. Just a reminder, the 240-250 area is the next major resistances on the weekly scale. After this consolidation period, we'll wait for a breakout to take us there. Patience pays fat.
PCLN: Target has been reached, it's up 5 days in a row as well and it's too near the $800 even number pivot resistance. Likely time for consolidation, patience pays well.
Tuesday, May 14, 2013
AAPL, NFLX and PCLN Technical Analysis
AAPL: Range day trapped in more traders, 448 target is still valid. High probability for a gap down/morning run to the $448 target tomorrow.
NFLX: Bull train breakout above earnings high, no resistances until 240-250 on weekly scale. Use the short-term measure moves to determine how powerful this bull is (the faster we reach them, the more powerful). Enjoy the easy ride while it lasts, gifts don't come often.
PCLN: Another bull train, it broke above all time highs. Use 100% measure move for target, we've reached 61.8% already. Choo choo!
NFLX: Bull train breakout above earnings high, no resistances until 240-250 on weekly scale. Use the short-term measure moves to determine how powerful this bull is (the faster we reach them, the more powerful). Enjoy the easy ride while it lasts, gifts don't come often.
PCLN: Another bull train, it broke above all time highs. Use 100% measure move for target, we've reached 61.8% already. Choo choo!
Sunday, May 12, 2013
AAPL, GOOG and GS Technical Analysis
AAPL: Friday was a typical ranged day like what we expected, no surprises. The short-term trend is clear now, it'd reached the $450 target level and now we're waiting for the $448 level to be reached. If breaches 448 then the new target of 440-442 (the trending 20EMA daily) goes into effect immediately. Added the invalidate line for the 448 target thesis to show what shouldn't happen to short-term bears.
GOOG: A bull train that keeps on gifting, been a fun ride so far. Ascending triangle formation now on the hourly timeframe, if breakout then the 100% measure move is roughly at $895. We have not reached the 100% MM of the gray breakout yet though, which is targeting $883.8.Trust price only, train until price violates support.
GS: Waiting for price to trigger the start of a new bull leg up. Patience pays well as evidenced by previous times.
GOOG: A bull train that keeps on gifting, been a fun ride so far. Ascending triangle formation now on the hourly timeframe, if breakout then the 100% measure move is roughly at $895. We have not reached the 100% MM of the gray breakout yet though, which is targeting $883.8.Trust price only, train until price violates support.
GS: Waiting for price to trigger the start of a new bull leg up. Patience pays well as evidenced by previous times.
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