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.
Sheesh, maybe I should just focus on long ideas.
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.
From a post on gold and silver on Tuesday…
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.
(more…)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.
OK, it’s a pretty dull day (the S&P is up one-fifth of a single percentage point), so while we await the Fed minutes, here are a few dazzling long patterns.
Disney (symbol DIS) looks ready to break out of a quite well-formed triangle pattern. As spectacular as this stock has been, its P/E is incredibly low for this insane market (only 15).
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.
