ALRM: Higher priced stock with $1.9 billion market cap that broke through a triple top today trading to all new highs at $35.91 before closing at $35.15. Not normally a stock I would trace but I would look to go long over $36.00 with the top of the upper channel being $42.00.
CARA: A stock I wrote about last night looking for the break of $18.00 which is near term resistance. It did trade up through it to a high of $18.34 closing at $18.20. My original entry was $18.00 but you could go long over today's high with $19.00 and $21.00 the price targets. Short ratio, 4.6 days to cover.
ICHR: Last month the this semiconductor stock broke through lateral resistance at $21.50 and recently made a top at $25.00. After two days of pulling back it surged today trading as high as $25.68 and closing right near the top of its range at $25.64. I would look to go long this stock over today's high with $30.00 as my price target.
IMMU: This stock just continues to grind higher. Not volatile, but last month it broke through lateral resistance at $7.00 and today traded as high as $8.16 closing at $8.12. It does have overhead resistance at $8.50 but $9.75 is my price target. Short ratio, 7.9 days to cover.
DKS: Specialty retail stock that has come down from $63 late last year to $40.43 today. It recently bounced after a big drop early in May but it was a weak rally (dead cat bounce). Today it broke the short term support and looks to go lower. I would enter a short below $40.20 with $38.00 and $34.00 as my price targets.
HCLP: Stock is in a well defined down trending channel and recently broke below support at $13.70 trading down to a low of $11.90 before recovering to $12.55. I would look to short below $12.00 with $10.00 and $8.50 as price targets.
PCMI: Stock was in a nice up trending channel until early May when it got smacked and dropped from $30.72 to $18.20. It found support at $18.20 but is forming a bear wedge and is right at the lower trend line of the wedge. It had a low today of $19.80 and closed at $20.15. If it breaks that trend line, I would look to go short with first target being support at $18.20. But if it breaks through that level then $14.50 and $10.00 are price targets. This is a very weak sector, specialty retail.
Good patience.... Nice trade.
wow, Bob, your profit chart looks incredible! Great work man, and thank you for sharing your knowledge !
Thanks Bob!!
Thanks for posting these. I'm starting to study your trades and the detail in your watchlists is very helpful in the analysis.
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