Hot Pick Of The Day

[New-born baby]

hey newborn...i was looking at the chart of xprsa...is that a huge ascending triangle that is forming ..or am i mistaken?????

Xprsa
The chart could be forming:
1. Right shoulder of a head and shoulder's formation (bearish)
2. Cup with handle (bullish).

It is not, imo, an ascending triangle. Ascending triangles are more or less level at the top, and the lower support lines are ascending. I think it is a symmetrical triangle, where the two support lines run towards each other at a 45 degree angle.

I do like the volume of the past two weeks for the bull move up, but I think the smart play is to buy the breakout past $25 (hopefully on volume), and set at stop just under the $24.85 level.

[New-born baby]

sorry to butt in here but xprsa kinda looks like tqnt's chart 10 days ago

Butting in perfectly allowed on Hot Pick of the Day. We want stock discussion on this thread.

TQNT: yes, the charts are very similar. Nice work. One thing that differs is that TQNT had "topping tails," a tell-tale sign that she's due for a pullback of some kind (minor or major). And TQNT doesn't appear to be setting up for a head and shoulders. In fact, if you look closely at TQNT's chart, it has coiled up for some kind of move right now. All the moving averages have converged on the weekly a one point. I suggest a buy above $5.09 and stop under $4.85. I am looking at a target of $6.65+, for a r/r of 6.2:1. "Not bad."
Weekly:

[Gwhiz]

SONS has sort of been ??vacillating?? just above resistence, is this a bearish sign or merely a slow moving stock?

[New-born baby]

SONS has sort of been ??vacillating?? just above resistence, is this a bearish sign or merely a slow moving stock?

SONS filled the gap up quite nicely, then bounced off the $5 support. Right now it is drifting lower, but I don't have any concern for that since it is a lower volume move. As long as SONS is above $4.98 I am bullish on it.

[billyjoe]

BLUD has a sort of a weekly cup, with volume dry up on the handle. The daily chart says you don't want to drop below $21.80 or else BLUD could blungeon you down to $20.50.

New-born,

Sold BLUD today for 15.10% gain in 6 days , almost huge. Still like it but it's a hot stock on a lousy day. Can always buy it back later.

--------------billyjoe

[New-born baby]

New-born,

Sold BLUD today for 15.10% gain in 6 days , almost huge. Still like it but it's a hot stock on a lousy day. Can always buy it back later.

--------------billyjoe

So nice, BillyJoe. Note that ANN is getting all gussied up today.

[Gwhiz]

IAAC, what kind of resistence to expect at 28? I am clueless when it comes to technical analysis so what makes you think it may be forming a double top?
IMO that IAAC has a long way to run from here.

[New-born baby]

IAAC, what kind of resistence to expect at 28? I am clueless when it comes to technical analysis so what makes you think it may be forming a double top?
IMO that IAAC has a long way to run from here.

You could be right . . . here's the answer to your question, "What resistance do I see at $28?" $28 is the previous top, and it sold off from that. The rule is that any previous top represents selling resistance. Look at it this way: there are a lot of people who paid $28 for IAAC and it is now $25, they just want their money back because they are scared that IAAC will not come back to them in price. They are potential sellers.

Now as to what I see that may mean IAAC is headed to a double top instead of a breakout to $39.50:
1. Look at my response to your first post here and notice these issues on the monthly chart.
2. Note that I said IAAC just completed a long term formation (i.e. reached the target of a previous cup with handle). That means that today's price is the reached target of a long term formation on the chart. You think it will run higher from here; that's possible. In that case IAAC will supercede the chart's target by a large margin. BUT the RSI shows that IAAC is overbought. Sooner or later than condition will correct itself. Look at that 10 year monthly again and see the volume spikes. They all came at market tops. IAAC just experienced a huge, huge volume spike. Is this the exception or the rule? Time will tell; in every past performance it has been the rule.

As long as IAAC is above $24, I am bullish on it. But remember that $28 it may turn back. IF IAAC busts $28 resistance I am bullish on it to $39.50. But until then, you would probably be wise to remember that below $24 it is in trouble, and when it nears $28 it is time to take profits. Just my opinion Best to ya!

[billyjoe]

So nice, BillyJoe. Note that ANN is getting all gussied up today.

New-born,
What do you think is up with ANN ? Not much reaction to sales report. Volume down , but not enough to say it's a dry up in the handle. Will it explode or just linger ? Thanks . Lots of retail had good same store numbers. Maybe it wasn't impressive enough.

-------------billyjoe

[New-born baby]

New-born,
What do you think is up with ANN ? Not much reaction to sales report. Volume down , but not enough to say it's a dry up in the handle. Will it explode or just linger ? Thanks . Lots of retail had good same store numbers. Maybe it wasn't impressive enough.

-------------billyjoe

Frankly, BillyJoe, I don't see anything unusual about ANN. You see, it is a common thing for some bigshot to dump shares on good news. So some hotshot dumped ANN when she put up the good numbers. Well after a $2 dump, it does make people a little gunshy about jumping in. That explains today's lower volume. But it wasn't much lower than normal: 1.6m vs. 1.8m avg.

Look at this weekly chart. See the resistance. If ANN busts that, then add another $7 to her price. See the current trend line. Do you realize that a $2 dump did not bust the trend? Therefore she's still bullish.

My view: she is still good to go until that trend line busts. Like Alfred E. Neuman, I say, "What me worry?"

Ann's photo gallery

[Gwhiz]

NEW BORN
Thx for the explanation, very enlightening.
you have no idea how helpful it is for an investor like me to get advice from someone who knows as much TA as you.

[ninner]

consolidating

gwiz..that was a good explanation by newborn....i am a fellow investor of IAAC and i saw huge resistance at around 26.80. I dont think it will bust 28 this time around.....and like he said i see huge support around or just under 24...i say it "ping pongs" around here for now until it reports. Just my observations....

[ninner]

Qsii

intraday i saw a cradle pattern developing...IF AND IF this pattern holds....im a betting man that we bust out sooner than later. just my 2 cents.

[New-born baby]

intraday i saw a cradle pattern developing...IF AND IF this pattern holds....im a betting man that we bust out sooner than later. just my 2 cents.

QSII:she's knocking her head up against that $41 resistance. Pretty tough stuff there. If she ever busts $41, jump on board ASAP

[New-born baby]

Out

Readers:
I'll be out of the office all day Tuesday. If you wish, post here and I'll respond Wednesday ASAP.