(free content, published before the launch of our new site)
12/07/19
CHART IDEA OF THE DAY
SCHLUMBERGER LTD (SLB)
$36.89
Energy Services.
First weekly close over the 40-week moving average since July 2018. Also at a 4 month weekly closing high.
12% stop = 32.46
12/06/19
CURRENT POSITIONS (end of week)
ABT, AMD, AMZN, BABA, BAC, CS, FB, GE, HL, MAS, MT, NVDA, SHOP
GLD, ITB, QQQ, SMH, XOP
12/06/19
CHART IDEA OF THE DAY
Owens Corning (OC)
$66.11
Building Materials.
Turning up off the rising 50-day MA, daily RSI improving. A 10% stop would go under the rising 100-day MA.
Oracle (ORCL)
$54.68. Oversold into the rising 200-day MA, daily RSI improving.
Disney (DIS)
$147.44. Consolidating into the rising 20-day MA, with strong support in the 140 – 144 range.
Intel (INTC)
$56.08. Oversold above the rising 50-day MA. Key support in the 52 to 53 range.
12/05/19
UPDATED OPEN POSITIONS (+BABA, +MT, – ASHR)
HL up 23% from entry. Those looking to scale could do so here. I am riding out the position with a stop just over breakeven, 2.34.
POSITION JOURNAL
Long positions today in MT with a stop at 15.23 and BABA stop at 173.24. Closed out winner in ASHR long from Feb over 200-day MA breakout.
12/05/19
CHART IDEA OF THE DAY
ArcelorMital (MT)
$17.02
Steel
Higher highs and lows, basing, and nearing the 200-day sma. Bullish over $15.
POSITION JOURNAL 12/04/19
Closed out partial SHOP long just over $370 from $318 entry. Still long most of the position.
CURRENT OPEN POSITIONS
12/03/2019
ABT, AMD, AMZN, BAC, CS, FB, GE, HL, MAS, NVDA, RAD, SHOP
ASHR, GLD, ITB, QQQ, SMH, XOP
CHART IDEA OF THE DAY 12/03/19
ALIBABA (BABA) $194.90
Interesting here after a 5% pullback, on lower volume, from the 200.98 high. Holding over the rising 200-day sma at 175.27, and also a key 180.00 support level. Further consolidation could be possible, but technically bullish over 175.
12/03/19
APPLIED MATERIALS (AMAT) $55.34
Interesting here after a 12% pullback from the 62.85 high. 7.3% above the rising 100-day sma which has held the uptrend since June 2019.
CHART IDEA OF THE DAY 12/02/19
Opened Long GE
11.43, stop under 9.90.