Lindedin Breakdown

Lindedin Breakdown

The cluster of high wick candles that formed in February and early this month may have been a tell, but Lindedin (LNKD) shares were unable to sustain new highs after breaking above their 2013 high. In fact, they drifted back…

Disney - Broadening Formation

Disney – Broadening Formation

Shares of the Walt Disney Company (DIS) have been moving higher over the last two months in a broadening formation, even as the MacD indicator has been in bearish divergence and with Chaikin Money Flow reflecting distribution. As long as…

Weyerhaeuser Holding Channel Support

Weyerhaeuser Holding Channel Support

Price action over the last two months in Weyerhaeuser(WY) shares has been bounded by channel lines and key moving averages. This week the stock held the large March channel support line and today it is retesting the 200 day average,…

Exxon Mobil  Returns To Key Technical Level

Exxon Mobil Returns To Key Technical Level

Exxon Mobil (XOM) shares are back up near the $85.75 level. This area was solid support for about five months before it was broken last month. A sustained move back above it could signal the beginning of a bottoming process.

Commercial Metals Dual Breakout

Commercial Metals Dual Breakout

Commercial Metals (CMC) shares broke above a six month downtrend line last week, and today are taking out rim line resistance of a large cup and handle formation and their 200 day moving average. The price and money flow momentum…

Google Channel Check

Google Channel Check

A reader requested I take a look at the Google (GOOGL) charts: Google rallied off its 2012 low making a series of higher highs and higher lows for the next two years. The pullback to the 200 day moving average…

Tesla Continues to Channel Lower

Tesla Continues to Channel Lower

I have been highlighting the movement of Tesla (TSLA) shares within clearly defined channel consolidations on the weekly chart. This week they tested the support line of the lower channel. To reverse this measured decline requires several strong closes above…

Biotech Bounce Suspect

Biotech Bounce Suspect

The Biotech iShares (IBB) fund closed up nearly 2% on the day, but was down over 5% on the week. Today’s volume was 6% above the 50 day moving average of volume, nowhere near the down day volume levels seen…

Renaissance RE Holdings - Channel Breakdown

Renaissance RE Holdings – Channel Breakdown

Renaissance RE Holdings (RNR) shares are breaking below a key channel support area marked by the intersection of the 50 and 200 day moving averages, and a support line drawn off the March lows. Chaikin Money Flow and MacD are…

Weekly Candle Watch

Weekly Candle Watch

The S&P 500 Index saw a nice recovery intraday and came away with only a modest loss, but it still remains below its 50 day moving average and the trend line denoted by the January highs. Yesterday’s price action formed…