Euphemistically speaking, what a glorious year this is for year-end charts. Much fun it is to have a yearly tell of what is going on. Here are three issues whose charts (yesterday’s!) help portend their future.
Quarterly and monthly charts of the big burrito [CMG] are green.
All well and good for a company to prove itself worthy of opening stores all over the country selling the “musical fruit”. Still, rising from around 300 in 2018 to 1900 last year, and now around 1500, seems undeserved [too lofty]. But as culty, motley fool-hyped, momo stocks go, my bias is of no matter.
What may matter, is the rising wedge on the short term chart. Price is above all moving averages and lies in the middle of the Cloud. How it moves out of the wedge will be the tell. If not the weekly, the close of the monthly chart should give the answer.
MSFT is experiencing a lull after nine years of steady incline.
Three months ago, price lost support of a 1986 uptrend and the 1999 high uptrend.
On the weekly chart, price is pressed against the bottom of the Cloud. Even if it manages to penetrate, there is a lot of convergence of overhead resistance to get past. Staying below the blue trendlines is the tell.
GLW reported earnings yesterday and is on LZ’s 5hit list. Price topped last year, then lost support of the 1997 channel trendline.
Corning’s quarterly and monthly charts are green, although pressing up against the bottom of the Cbbbloud.
Perhaps most telling is the weekly chart showing price testing a bearish flag.
Hallowed Monday, here we come.
