Watch List for July 29 - Ideas...FWIW
After a pull back to form a bull flag on contracting volume and set up the Grail buy off the 20-day EMA, INTC is off to test the all time high. We have Trader Vic 1-2-3 lines on the weekly chart, much like we drew them on MSFT.
YHOO made an up day on increased volume, perhaps the beginning of a bounce here. Resistance overhead at the moving averages. On daily charts we use the 20-day EMA and the 50-day MA.
Priceline is very interesting in that the June low was $74 3/4 and the July 27 low was $73 7/16. Today it made an up day on large volume, indicating that a 2B bottom has been put in on PCLN. Resistance overhead on PCLN will first be at the 20-day EMA at $93ish and then the 50-day MA at $102ish.
SUNW is presumed to be a failed test of top on the weekly chart. On the daily chart SUNW is on a bounce inside a set of 1-2-3 lines, but volume is no picking up on this bounce, making it look suspect and vulnerable. On the 65-minute chart, it's looking very much like a rising wedge on contracting volume at this time.
XLNX is in a test of top position on the daily chart, checking out the all-time high. Volume has not been great on this bounce so far. The last candlestick on the 65M chart is a shooting star at resistance on approach of the old high.
EBAY reaches support on the weekly chart. Made a low on high volume two days ago, and made an inside day today, consolidating, perhaps pausing at support. It will be very important for EBAY to break today's high tomorrow to confirm that a bottom is in.
SBC coming up to a test of top at the all-time high on the weekly chart. It's do or die time.
VRSN failed on the test of top on the weekly chart. Note contracting volume as it reached the high - bad sign.
RBAK - bounce now or else the head and shoulders top comes into test the neckline on the daily chart.
The moment of truth comes for ICCI shortly here.
GENZ needs to find volume here to the upside to keep going and avoid failure on the weekly chart.
Maybe it's my imagination but that looks like a broken head and shoulders pattern on ANN on the weekly chart.
MMC is in an interesting consolidation pattern sideways.
EDS is on a test of top on the monthly chart and has consolidated over the last few days on a bunch of inside days - a move is coming shortly for EDS. Could also be a head and shoulders top here for EDS - this one is going to keep us in suspense until the end, but volume has contracted to nothing so a move is coming for sure and we'll know shortly.
USAI in test of top position here too.
LGTO consolidating here on the daily chart, ready for the next move. It's ready to go shortly.
That's it for ideas this evening...
Charts have been posted to intelligentspeculator.com |
