Today I decided to post some charts of a few stocks that are under review for prospective trade setups or are already in my portfolio.
GameStop Corp. (NYSE:GME)
Has broken out of a sideways triangle pattern and above the Ichimoku cloud on a weekly basis. I have placed my stops at the cloud support and my target is above $50. I’m already long since $44.19.
Lam Research Corporation (NASDAQ:LRCX)
A pattern that looks like an inverted H&S is seen in this daily chart. Price has broken above the neckline resistance and above the Ichimoku cloud support. My target is near $100 and my stop at the cloud support. I’m already long since $82.55.
Apple Inc (NASDAQ:AAPL)
Remains in a bullish mode as long as it trades above the blue trend line support as shown in the 60 minute chart below. If broken we should expect a push lower towards $125. Price is just above support so bulls need to be very cautious. I have no positions.
Jd.Com (NASDAQ:JD)
A promising cup with handle pattern is being formed with resistance and breakout level at $35.50. I’m already long since $34.10 and have placed my stops at $33. Price is above the Ichimoku cloud and the tenkan-sen and kijun-sen have made a bullish cross two days ago.
eBay (NASDAQ:EBAY)
Has broken above a 2-year consolidation trading range. I’m long since $59.50 and have stops placed at $58. Price is making higher highs and higher lows. Trend is bullish for the short-term and we could be at the start of a new upward trend.
Important resistance to watch out for potential reversal is at $64.50 where we find the 127% extension of the decline from $61 to $48.
Hope you find my sample update useful….have a great day…