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Resistancebecomesupport

Is $GIS ready to move higher?Notes: * Very strong up trend on all time frames * Great earnings track record * Breaking out of a base on base pattern of about 4 months * Has been testing broken resistance of 76.57 as support for the past several sessions Technicals: Sector: Consumer Defensive - Packaged Foods Relative Strength vs. Sector: 7.77 Relative Strength vs. SP500: 1.08 U/D Ratio: 1.33 Base Depth: 16.62% Distance from breakout buy point: 1.14% Volume 61.4% above its 15 day avg. Trade Idea: * You can enter now as the price is still close to the broken level * If you want a better entry you can look for one around the 76.57 area as that should continue to serve as support should $GIS continue to range
NYSE:GISLong
by HaseebKhan_90
Is $ATEN ready to come up on the right side of its base?Notes: * Strong up trend since 2020 * Great earnings track record * Basing for the past ~9 months * Just broke back above IPO highs of $14.9 on the monthly time frame and retested it as support * Recently came above its 200 day line and now coming above its 50 day * Showing strength and accumulation * Printed a pocket pivot in the last session indicating institutional demand Technicals: Sector: Technology - Software - Infrastructure Relative Strength vs. Sector: 23.55 Relative Strength vs. SP500: 4.61 U/D Ratio: 1.59 Base Depth: 50.68% Distance from breakout buy point: -18.94% Volume 5.58% above its 15 day avg. Trade Idea: * This is offering a low risk entry so you can enter now as the price is still close to its 50 day line and just retested $14.9 (Historical highs) as support * If you're looking for a better entry you may be able to find one around the $14.9 area as that should hold as support moving forward * This stock usually has local tops when the price closes around 17.84% above its 50 EMA * Consider selling into strength if the price closes 17.64% to 18.04% (or higher) above its 50 EMA * The last closing price is 6.26% away from its 50 EMA
NYSE:ATENLong
by HaseebKhan_90
3
$CI is breaking out of a ~14 month cup with handle pattern!Notes: * Very strong up trend on all time frames * Great earnings track record * Breaking out of a ~14 month cup with handle pattern * It did break out before but then pulled back (seems like a shakeout) * Now it's been in a tight range just above the broken resistance creating new support * The last session printed a pocket pivot indicating institutional buying Technicals: Sector: Healthcare - Healthcare Plans Relative Strength vs. Sector: 5.55 Relative Strength vs. SP500: 28.95 U/D Ratio: 1.77 Base Depth: 43.95% Distance from breakout buy point: 1.09% Volume -5.44% below its 15 day avg. Trade Idea: * You can enter now as the price is just above the broken resistance with the last session being a pocket pivot * If you want a better entry you can look for one around the 270.1 area * This stock usually has local tops when the price closes around 9.18% above its 50 EMA * Consider selling into strength if the price closes 8.98% to 9.38% (or higher) above its 50 EMA * The last closing price is 3.9% away from its 50 EMA
NYSE:CILong
by HaseebKhan_90
Is $MUSA ready for another run?Notes: I last mentioned $MUSA on July 7th, 2022 and since then it has run up more than 12% hitting our target. Since hitting our target $MUSA has been in an orderly pull back to the broken resistance of $262.58 and testing that as support. * Ideally, this should now hold above $262.58 in order to stay constructive. A daily close, or two, would signal weakness. Now that earnings are out better than expected we may be able to expect another run up. Everything else remains the same as my previous post. Technicals: Sector: Consumer Cyclical - Specialty Retail Relative Strength vs. Sector: 2.36 Relative Strength vs. SP500: 3.75 U/D Ratio: 1.27 Base Depth: 19.38% Distance from breakout buy point: 1.66% Volume 19.89% above its 15 day avg. Trade Idea: * You can enter now since the earnings are out of the way and it's bouncing off of support with higher than average volume. * It may also consolidate for the remainder of this week so if you want a better entry you can look for one around the $262.58 level * This stock usually has local tops when the price closes around 14.62% above its 50 EMA * Consider selling into strength if the price closes 14.42% to 14.82% (or higher) above its 50 EMA * The last closing price is 7.35% away from its 50 EMA
NYSE:MUSALong
by HaseebKhan_90
$UCO ready to go higher after retesting broken resistance?Notes: * Strong up trend due to macro situations * Printed a Pocket Pivot as it bounced off of broken resistance * Looks good on multiple time frames Technicals: Sector: Exchange Traded Fund Relative Strength vs. Sector: 3.02 Relative Strength vs. SP500: 4.05 U/D Ratio: 1.62 Base Depth: 56.08% Distance from breakout buy point: 4.42% Volume 37.69% above its 15 day avg. Trade Idea: * You can enter now as the price just bounced off of the broken resistance with higher than average volume * If you're looking for a better entry you look to buy around the $52.20 area * Manage risk accordingly
AMEX:UCOLong
by HaseebKhan_90
$DOW breaking out of a ~13 month base. Can it go higher?Notes/Thoughts: * Great earnings record * Strong up trend * Breaking out of a ~13 month base with higher than average volume * Recently used historical highs of $65.56 as support * Last bullish hammer indicating tonnes of demand below $67.49 * Extremely close to the broken resistance of $67.49 offering a great risk/reward Technicals: * Sector: Basic Materials - Chemicals * Relative Strength vs. Sector: 9.19 * Relative Strength vs. SP500: 8.08 * U/D Ratio: 1.2 * Base Depth: 29.46% * Distance from breakout buy point: 0.86% * Volume 46.06% above its 15 day average. Trade Idea: * You can enter now as the price is really close to the broken base resistance * Manage risk accordingly * If you're looking for a slightly better entry you may wait for the price to pull back to $67.49 * Due to the nature of this choppy market I've reduced my stop and targets accordingly.
NYSE:DOWLong
by HaseebKhan_90
$NVO giving another entry opportunity before moving higher?* Good earnings * Very strong up trend in the long term * Broke out of a ~4month base and now retested it as support * Sector: Healthcare - Drug Manufacturers - General * Relative Strength vs. Sector: 8.35 * Relative Strength vs. SP500: 2.56 * U/D Ratio: 2.21 * Base Depth: 26.05% * Distance from breakout buy point: 1.01% * Volume 145.18% above its 15 day average. Trade Idea: * Given the amount of volume that came in around $116.55, it seems like there's quite a bit of demand for this stock around this price. * You can look to enter now as the price is very close to the broken base * The U/D ratio indicates that the stock's under accumulation * If you're looking for a better entry you can look to enter around $115.16
NYSE:NVOLong
by HaseebKhan_90
$HSIC looking to make the next leg higher!Notes: * Solid earnings in the recent quarters * Strong up trend in the long term * Broke out of a base on base pattern * Initially created a base of ~9 months, broke out and created a smaller base of ~4 week and is now breaking out again * The ~9 month base was just above historical highs of $73.19 setting it as support * Making new all-time-highs * For the past 3 weeks it has been testing $87.55 as a new level of support with the volume drying up indicating that buyers and sellers are agreeing on this price Technicals: * Sector: Healthcare - Medical Distribution * Relative Strength vs. Sector: 2.11 * Relative Strength vs. SP500: 5.05 * U/D Ratio: 1.79 * Base Depth: ~19.68% * Distance from breakout buy point: 2.25% * Volume 1.04% above its 15 day avg. Trade Idea: * You can look to enter now as the price is still pretty close to the broken level of $87.55 * Manage risk under $87.55 * If you're looking for a better entry you can look to buy around $88.72.
NASDAQ:HSICLong
by HaseebKhan_90
$CHKP breaking its 15 month base! Pullback recovering.* Excellent earnings * Very strong up trend on the longer time frame * Breaking out of a 15 month base * Sector: Technology - Software - Application * Relative Strength vs. Sector: 3.81 * Relative Strength vs. SP500: 10.48 * U/D Ratio: 1.95 * Base Depth: 25.82% * Distance from breakout buy point: 1.75% * Volume 13.76% above its 15 day avg. Trade Idea: * You can enter now as the price is very close to its breakout point. * Or if you want to look for a better buy opportunity you can look to enter around the $137.47 area as that should serve as support moving forward.
NASDAQ:CHKPLong
by HaseebKhan_90
$ANTM attempting to break out for a second time! Will it hold?* Great earnings * Very strong up trend in the long term * Sector: Healthcare - Healthcare Plans * Relative strength vs. Sector: 2.19 * Relative strength vs. SP500: 1.03 * U/D Ratio: 1.17 * Base Depth: 9.7% * Distance from breakout buy point: 0.45% * The setup is giving a great risk/reward ratio allowing us to manage risk tightly * Hasn't been effected by the current world affairs at all * Weekly price action also looks very healthy Trade Idea: * You can enter now as the price is just above the breakout and volume is higher than average. * Alternatively you can look for an entry around the $468.7 area or if you think this will pull back a bit more; you can look for an entry around the $460.25 area. Manage risk accordingly.
ALong
by HaseebKhan_90
$CHRW ready to move higher after breaking its ~17 month base?* Great earnings in the recent quarters * Strong up trend * High 3-month relative strength of 3.82 in the Industrial sector * Has a U/D Volume Ratio of 0.94 (ideal would have been > 1) * Pays out a generous dividend * Breaking out of its ~17 month base * Due to the recent volatility it had a slight pullback after its previous breakout * Has been holding up really well over the past week when the general market was selling off like crazy. This is showing relative strength and institutional demand. * Used the broken level as support and pushed higher from there Trade Idea: * It is not advised to trade breakouts in the current market conditions. * If you want to enter with a small position, now would be a great time to enter as the price is just breaking out once again. * If you're looking for a better entry you can look for a buying opportunity around the $105.7 area as that should continue serving as support moving forward.
NASDAQ:CHRWLong
by HaseebKhan_90
$CMC breaking out of a ~7 month base!* Great earnings * Strong up trend in the long term * High 3-month relative strength of 1.08 in the Basic Materials sector * Pays out dividends * Breaking out of a ~7 month base with higher than average volume * Broke out earlier but due to current market conditions it did have a slight pull back and now is breaking out once again. * It did, in the recent months, break out of a multi-year base Trade Idea: * You can look to enter at today's closing price. * If you want a better entry you can look for an opportunity around the $36.33 area
NYSE:CMCLong
by HaseebKhan_90
3
CDW breaking out of a 5 month base with volume!* Perfect earnings * Very strong up trend since inception * High 3-month relative strength of 1.65 in the Tech sector * Pays out quarterly dividends and just last quarter it increased its dividends! * Broke out of a ~5 month base with volume * Broke out late December and has been consolidating since then right above the breakout point * Even with the uncertain market conditions it's managing to stay above the broken base. Trade Idea: * You can enter at today's closing price if you don't mind a little volatility. * If you're looking for the perfect entry, you may wait for the price to turn a bit lower and enter near the $203.30 area * Due to current market conditions it's better to wait and see what may happen. * If you're a bit more conservative you may wait for a break above this current range and look for an entry near $207.72 Caution: * A daily close below $198.14 would negate the idea.
NASDAQ:CDWLong
by HaseebKhan_90
ADP looking to head higher prior to earnings?Note: I last mentioned this around late October 2021. Since then it's gone up and consolidated while the rest of the market was turning down. This shows institutional support technically and it's also doing really well fundamentally. * Amazing earnings quarter over quarter * Incredibly strong long term up trend * High 3-month relative strength of 2.64 in the Industrial sector * Broke out of a roughly month long base last week * Came back down to a buying range and now increasing in volume again Trade idea: * Right now's a good time to enter as it's using it's 10 EMA as support. * It's 2.1% above the broken resistance which is still very close * Offering a great risk to reward ratio * If you're looking for a better entry, you can look for an opportunity near the $240.11 area Caution: * A break below $236.13 would negate this idea.
NASDAQ:ADPLong
by HaseebKhan_90
SCHW looking to reach new highs?* Great earnings * Strong up trend * High 3-month relative strength of 3.72 in the Financial sector * Breaking out of a base on base pattern with higher than average volume * Broke out a few days ago but due to the market conditions it had a slight pull back to the breakout point Trade Idea: * If you don't mind a little volatility and want to catch the bigger move, you can enter now as indicated. * The price is only 1.73% away from the broken level * However, if you're looking for a better entry, you can look for one around the $84.30 area as that should serve as support moving forward.
NYSE:SCHWLong
by HaseebKhan_90
ITW finally ready to move higher?Note: I've mentioned this stock a couple of times before but both times it pulled back to an expected level due to the market conditions at the time. * Excellent earnings * Very strong up trend * High 3-month relative strength of 2.61 in the Industrial sector * Breaking out of a ~9 month base with higher than average volume * Tried to break out a couple of times before but failed due to market conditions at the time * Now breaking out again with higher than average volume * The recent price action did make a double bottom and the price has confirmed a break of the double bottom as well. Trade Idea: * Now's a great time to enter as the price is just breaking out and is close to the broken level * If you're looking for a better entry you can look for a buying opportunity near the $242.52 area
NYSE:ITWLong
by HaseebKhan_90
BRO breakig out and creating new all time highs.* Great earnings * Very strong up trend * High 3-month relative strength in the Financial sector of 6.25 * Breaking out of a 2 month base with higher than average volume * Held up very nicely during the recent market conditions Trade Idea: * Now's a great time to enter as the markets are showing signs of recovery * Still close to the broken level and adding to the volume * If you're looking for a discount you can look for buying opportunities near the $67.13 as that should serve as support moving forward Caution: * If the stock makes 3 consecutive lower lows on a daily basis you might want to consider exiting early.
NYSE:BROLong
by HaseebKhan_90
SGH using IPO base resistance as support!* Great accelerating earnings * Breaking out of its IPO base * High 3-month relative strength in the Tech sector * Using the broken resistance of the IPO base as support * Formed a cup and handle pattern * Holding up really well even in a correction * Has been consolidating right above broken resistance for the past 4 weeks. * Maximum probable ROI is ~41% * Depth of the base is at ~70% * Has been forming the base since 2018 so ~70% move up isn't unlikely Trade Idea: * Given the nature of the current market and if you don't mind a little volatility, now would be a great time to enter as it's constructing a new support around the $56.69 area. * If you're looking for a slight discount you can look for an entry around the $56.69 area given it's acting as support Caution: * A daily close below $56.69 would negate the idea. * Given the market conditions and your risk tolerance use your judgement as to where you should enter. * A daily close below $56.69 could have the price around $53.73
SLong
by HaseebKhan_90
TER ready to move higher after using the 2000 highs as support?* Exceptional earnings * Strong up trend * High 3-month relative strength in the Tech sector * Breaking out of a ~1 year base with higher than average volume * Recently used $104.88 as support which was the high from the 2000's * Broke base resistance ($147.46) and has been using it as support for the past 12 days * Maximum probable ROI would be ~41.84% Trade Idea: * Great time to enter as the price is bouncing off of the broken resistance and isn't too far away. * If you're looking for a slight discount you can look for an entry near the $147.46 area since that should serve as support moving forward.
NASDAQ:TERLong
by HaseebKhan_90