Large number of posts to respond to! Ask the right question and you'll get the right response (an old pedagogical technique).
I'll have to get to your posts later in the day. For now, here is what I am looking at going into the weekend (mostly the same old story):
Overall view of the market:
Yesterday, the market traded slightly higher, only to give back some of its gains on the close ending 30 points higher on moderate to heavy volume. With earnings season in full swing, expect some volatility. The bulls and bears are still fighting for control. There are conflicting price patterns on the DJT and the DJI, for example. It is possible the DJI is forming a bull flag projecting higher prices and the DJT is forming a bear flag, signaling lower prices. But, until the DJI closes above the 8160 to 8210 area, I would recommend our focus be on the downside while being cautious and waiting for the proper setups. Take advantage of short term price movements!
Stocks I am focusing on at the moment are:
1. KO: A trend confirmation sell signal is forming projecting lower prices. %K is about to cross %D. Next target is 55 and then 47. Major resistance is seen at 64 to 67. Earnings are coming out this week.
2. PEP: A trend confirmation sell signal has formed projecting lower prices. %K has crossed %D. Next target is 26.
3. PG: A trend confirmation sell signal is forming projecting lower prices, but price yesterday broke out slightly from a descending triangle. Wait for confirmation when %K crosses %D. Next
target is 71 and then 68. If prices close above 80, look elsewhere.
4. CLX: If %K hooks down and crosses %D, look for lower prices with a target of 85.
5. MER: A key stock to watch. A break below 42 suggests lower prices with a target of 35.
6. DOW: a classic signal in formation! Divergence between price and momentum suggests lower prices. Next short term target is 82.
7. DD: If %K hooks down and crosses %D, look for lower prices with a target of 48.
To the upside, you might consider:
1. CPB: cup and handle formation has formed projecting higher prices with a target of 62. But the long term trend still remains downward. |
