The Best Trading Opportunities At The Moment

[Client]

Massey Energy Co (MEE) is coming to its highest point. This scenario is supported by some reasonable arguments. See the charts below.

Weekly chart of MEE
​

A significant resistance level was reached not so long ago. Beside that, on the second weekly chart below one of the possible wave counts is presented.

Weekly chart of MEE​

According to it, the third major wave can be split into 5 smaller waves. This whole movement seems to come to its end and now we can expect the development of the fourth corrective wave.
As you may know, a correction that comes after the end of 5-wave movement usually reaches the beginning of the previous smaller 4th corrective wave. Apart from that, it usually breaks the ascending trendline shown on the forecast above.

Daily chart of MEE​

The even smaller level of the recent rally suggests other 5-wave. This is the structure of the fifth wave of the major third wave. I hope you are not confused yet... The upside movement is developing within the channel which is usually broken rapidly after reversal starts.
Another tip is the type of the last part of this rally (approximately from $48.55 to $54.69). It is called Rising Wedge and is a reversal pattern. It shows that bulls are losing their strength.

 

[Client]

Fidelity National Financial (FNF) reached three support levels at once: MA (34), uptrend line and the previous top at $14.40. See the chart below.

Daily chart of FNF​

Beside that, as you may see, there is a reversal candlestick pattern - High Wave, the previous bar with long lower shadow. This means that sellers couldn't push the price lower, below the support levels mentioned before. After that we had a confirmation, a weak one though.
The forecast is presented on the chart above. Be aware that if the price breaks the level of $14.40 and goes lower the trendline, we should close long positions.

Arguments for upside movement:

* the price is above MA (34);
* the price couldn't break the upward trendline and break the support level of the previous top at $14.40;
* recent downside movement has features of a correction that means that the rally will continue soon;

Arguments for downside movement:

* confirmation (the last bar) of the High Wave pattern is rather weak, the price couldn't go higher than the middle of the long red bar;
* 3 Inside Down pattern (not indicated on the chart) few days ago.

Full analysis of Fidelity National Financial (FNF)

 

[Client]

There is a promising symmetrical triangle on the daily chart of Ritchie Bros. Auctioneers Incorporated (RBA). See for yourself.

Daily chart of RBA​

The price came close to MA (34) which gives us another bullish signal in this case. Also you should take into consideration the trading volumes which were very small during last several days. This is a common situation of this corrective pattern when the price becomes stable and then rapidly leaves the boundaries of the triangle. Most probably, RBA will perform an upside rally soon.

 

[Client]

The upside rally of Lockheed Martin Corp (LMT) was stopped by a correction which turned out to be a Falling Wedge pattern. The downward movement has features of a temporary correction and after it is over there will be a great opportunity to buy a couple of stocks.

Daily chart of LMT​

Additional signal that bulls may take control is MA (34) which was not broken by the price. The long lower shadow on the last bar appeared. Besides that there is a 38,2% Fibonacci level that creates a support right now.
However, the price is still within the Falling Wedge’s limiting lines. After it breaks the resistance, we should use the opportunity to buy it.

Read more here

 

[Client]

Consider looking at Illumina Inc (ILMN). As you can see on the daily chart below, the price has weak and slowly signs of downward movement. Most probably, this is a correction which may be over very soon if not already.

Daily chart of ILMN​

The stock fell to the level of the support (see the previous top) and its channel line. At this point we have a chance to trade with a small risk: if the price goes below that level and breaks the support, we close our position with small losses. But if it begins to go higher (very possible), then we appear in a very profitable position. That depends on your trading plan and appropriate risks that you can afford to take. The final decision is yours as always...

 

[Client]

ok people. Here is another stock to pay attention to - WellPoint Inc (WLP).
Seems to be a good one. Just be ready that it if it goes lower from here, it may fall the level of $55.5 (previous top). But I think that most probably it will grow from now and on...

As I don't have any willpower to rewrite the whole analysis again, I invite you to read it here.

 

[Client]

Another possible variant for trading - FEI Co (FEIC).
We may be able to catch the end of the correction and the beginning of a rally.

Daily chart of FEI Co (FEIC)​

And once again I invite you to read the full analysis of FEIС.

 

[Client]

RealNetworks Inc (RNWK). The price reached 2 trendlines at once on the daily and weekly charts. You should watch this stock closely as reversal signals may appear the next trading session...

Weekly chart of RNWK

Daily chart of RNWK​

 

[Client]

Today it is time to pay some attention to Res-Care Inc (RSCR). Not so long ago it formed a double top pattern and fell down. Now we have 2 bullish patterns shown below against 2 bearish patterns Hanging Man and Evening Star (not labelled on the chart). However, the rising correction is not over yet, most probably the price will reach the level of 50% of the previous fall and the zone of the expanding triangle that occurred about 2 months ago. After that further fall may continue.

Daily chart of RSCR​

Full analysis of Res-Care Inc (RSCR)

 

[Client]

Don't miss to trade Hershey Co (HSY). The nearest solid resistance is $52. However, despite the price has broken the upper line, wait for additional confirmation (1 or 2 bars) as there are usually 5 waves in triangles patterns.

Daily chart of HSY​

A little more of this analysis is here.

 

[Client]

Bancorp Rhode Island Inc (BARI) performed a gap and is falling right now to the weekly trendline. See the daily chart below.

Daily chart of BARI​

Full Bancorp Rhode Island Inc analysis