I'm going to get into the habit of posting the McClellan Oscillator (NYMO) at the beginning of each post. On a macro level, this is what I monitor to get a sense of the overall market. It is a very useful tool to gauge a trend reversal when it gets into the heavily overbought and oversold levels (-80 or below, 80+). As you can see the market is overbought in the short term, but consolidating right below the heavily overbought area. The advantage goes to the bulls at the moment. Onto my watchlist...
Palo Alto Networks is a cyber security company, which has been a very hot space as of late. $PANW formed a morning star on it's daily chart. I like this with an entry above the high from Friday at $85.64; stop placed at the low of the star at $79.70. All time highs are right above at $87.79 so that is my first target. Looking for a breakout above this eventually, assuming the market cooperates.
TrueCar Inc. has only been trading for ~ 3 months (IPO was in Mid-May). Be careful with this one as newer issues are seemingly always more volatile. They are trying to bring transparency to the car buying experience. $TRUE looks like it wants to break into new ATH territory around $22. I like this above $20.93 for a test of that $22 area.
Howard Hughes Corp. is a real estate owner lease manager (OLM). $HHC formed a bullish engulfing candle on the daily inside of a bull flag. It also bounced beautifully off of it's 21 day exponential moving average which looks like pretty strong short term support. I like it on a break of the flag and above short term resistance around $159. I think this name will push into new all time highs with my first target of $161.
Liberty Global is the largest international cable company. $LBTYA formed a bearish engulfing candle on it's daily chart on good volume. It also possibly formed a near term double top; time will tell. I will sell this on a break of $43.57 (Friday's low) with a target of it's 200 day simple moving average around $42.63.
Kandi Technologies is the "Chinese Tesla" if you will. $KNDI the largest producer of electric vehicles in China. KNDI tanked on Friday on very heavy volume. I'm placing my bets on the short side if it breaks near term support at $17.55. Stop will be placed at $18.50. If it breaks it's 50 day simple moving average with conviction, it might test it's next support level around $15. It's easy to be a bear when you see their product below lol. Call me vain, but that guy looks redonkulous.
Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
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