Here are 4 charts in continuation patterns that look poised to break out.
Originally published on TraderHR.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.
Eye on MRK
Merck & Co. Inc. (MRK) has been consolidating in a bullish flag pattern in the last two weeks after a move up from the 57 range to around 63 earlier this month. A breakout of the resistance at 63.40 could initiate new momentum and accelerate prices toward 65 area in the short term. Initial stop is set below flag low at 61.40. Originally published on TraderHR.com.
Eye on LVLT
Level 3 Communications, Inc. (LVLT) is approaching lateral resistance in its two-month rectangle pattern, in which the stock has been consolidating after a 25% gain in November. If it breaks out above the $50 resistance, we could see a continuation of a trend toward $51-52 short-term. Initial stop loss is at the 20 SMA at $48.40.
Originally published on TraderHR.
Eye on Athena Health
After a strong up-move in December of more than 30%, athenahealth, Inc. (ATHN) has been consolidating in the last 3 weeks in a bullish flag pattern with a very clear upper resistance descending trend line. If broken in the coming days at around the 144 zone, this could continue the up trend begun in mid-October 2014.
Compelling Breakout Formations
Here is Today’s Watch List of compelling breakout pattern formations: AXLL, BBY, LRCX, STM, SYRG, TK.
Originally published on TraderHR.com.
