Today we have an overview of four US stocks.
Biomarin Pharmaceutical Inc. (NASDAQ:BMRN)
This value was able to break the very mature downtrend on March 1st with a closing price above $87.93, and install a new uptrend. The current price high lies at $90.99; the correction zone (green rectangle) is located between $79.63 and $72.96. The price turned around and went deep back into this zone last week, and last Friday it showed a candle in the trend direction. With an entry in the trend direction, one can speculate on a continuation of this trend. A first target would be located at the last price high; the stop should be placed beneath the green correction zone.
Facebook (NASDAQ: FB)
The social media share has been in an uptrend in the superior trend for a long time now, and has formed its ninth correction in the last two weeks. However, embedded within this we can see an additional, very young uptrend. This also came out of its last correction zone and is aiming for the last high at approx. $117.59. But since the superior trend is very mature, it might well become very tight above this marker. However, with a close stop, one can speculate on a run-up to this marker.
Mylan (NASDAQ:MYL)
In the daily chart we see a very young downtrend. As can be seen in the image, our DowHow setup struck extremely early, and we were able to bring in some nice profits already with an entry in the area of $50. Since the trend is still intact, there is definitely still an entry chance below the low from Thursday at $43.65, to speculate on a continuation of the trend. A first target should be located at the last price low at $40.04. But if the price gets to there, then it will be necessary to drag the stop into the plus.
OReilly Automotive (NASDAQ:ORLY)
This value from the transport sector is showing very large swings in part. The last big upward movement led to another still-young uptrend with a correction zone between $269 and $259.82. Since the closing price was unable to overcome the last point two at $272.25 the price returned back to this zone, and with the candle from Friday, another signal was generated for the second attempt at a continuation of the trend. With a stop beneath the green correction zone, one can speculate on a trend continuation. Since the superior trends are also going in the same direction, I would work without a target and let possible profits run.
For presentation purposes the trading software "AgenaTrader" has been used.
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