Originally published on TheTechTrader.com.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Chart on NFLX (by TraderHR)
Netflix, Inc. (NFLX), despite the overall market sell-off on Monday, was one of the few stocks that finished the trading session with a gain. It closed just slightly below a key resistance area at 250, which is also the top line of an ascending triangle pattern in which the stock has consolidated during the last three months. If a breakout above that level occurs, we could see the 260 area reached next. Preferred entry (buy stop) price is at 251.05, with a stop at 241.00.
Originally published on TraderHR.com.
Pattern in Oil (Mike Paulenoff)
Last Wednesday we told subscribers that the day's upmove in WTI crude oil futures from $95 to $101 was not the start of a new upleg. We noted that the pattern exhibited on the daily chart since the May 7 at $94.63 to Wednesday's high at $100.99 resembled a bear flag formation much more than a significant bottom. It had the look of a digestion-consolidation pattern in the lower quadrant of the larger downleg from May 2's $113.97. The analysis remains unchanged, and still argues for another downleg into the $90-$88 area next, which should negatively impact the oil & gas names as well.
Originally published on MPTrader.com.
This Video Has Nothing To Do With LNKD
Originally published on TheTechTrader.com.
Chart Analysis on AAPL (by Mike Paulenoff)
For you Apple (AAPL) devotees, and I consider myself among the faithful, my near-term work argues that the correction of the late-April upleg from 320.16 to 360.90 ended (finally) on Tuesday at 330.75.
Since that low, a new upleg has started that likely completed its initial upmove this morning at 342.40. If my work is accurate, then AAPL has entered a correction of the upmove from 330.75 to 342.40, and could press next into the 335-332.50 area in the hours ahead.
Only a decline that breaks 330.75 will invalidate my current outlook, and will point AAPL towards a full-fledged revisit of the April 18 low at 320.16.
Originally published on MPTrader.com.
