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.
Marijuana stocks are among our top charts to watch today.
Aurora Cannabis Inc. (ACB) rose 8 cents to $8.96 on 21.3 million shares Wednesday. Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general. Next target is around $10.50, above its March high.
Anyway, two days ago, I suggested in Mouse Breakout that Disney was a buy (which, let’s face it, is a hard word for me to even type). Victory! Those with a shorter-term horizon might want to take some off the table.
Very simply, if it’s an H&S it’s a minor one with a target to the SMA 200 or short-term lateral support. Gold
has curled back up to test the underside of its SMA 50. A takeout of
1310 and then the March high could put yeller back in business.
Otherwise, don’t personalize it. A test of the SMA 200 would be normal.
The H&S was not my thing. I tend not to get overly excited about
short-term patterns and surely do not announce them far and wide to stir
people up. It was a product of the gold community, some
members of which have been flipping in head spinning fashion between
bullish and bearish views. I note it again because I don’t want that
stink on me. The upside and downside parameters above were my stuff.
A month ago, I did a bullish post on Bitcoin (you read those two words right – – bullish and bitcoin) when it was about $3800. It’s up about 40% in just a month’s time, and I maintain that getting to $6,000 is the logical stopping point.
Two biotechs and one technology stock top our list of charts to watch with strong technical momentum.
ChemoCentryx, Inc. (CCXI) gained 39 cents to $14.47 on 643,300 shares Wednesday, following through on Tuesday’s gains. The biopharmaceutical company, which is developing medications for inflammatory and autoimmune diseases and cancer, announced Tuesday it will be presenting at the H.C. Wainwright Global Life Sciences Conference on April 8. The stock is now up over 40% in the last four weeks since the company released earnings that beat Wall Street expectations, and is now approaching a resistance level and initial target at around $15. A break through there could lead to $17.