(This post was last modified: 2015-05-19, 10:09 PM by Amedee.)
RE: US Stocks - Watchlist and Discussion (Premium)
(2015-05-07, 05:40 PM)StageAnalysis Wrote:(2015-05-07, 05:30 PM)shaunattwood Wrote: Some of the recent shares mentioned here have pulled back significantly, including SQNM and CY.
I've just gone long SQNM at 4.05 and thinking about buying CY. Any thoughts?
CY is below the 30 week MA currently and 50 day MA. So personally I'd be wary until it can get back above those. Or make a Stage 2A breakout on the intraday 2 hour chart, which would be a close above the 13.8 area imo. See attached
I have a 'broken' position in Cy because of the recent pullback.
But I am still positive about it. Working with P&F charts, we note that the first sell signal in a uptrend, is very often a buy signal! It broke the so called blue dotted bearish resistance line in the following print screen.
Above that, one of my favorite 1 box reversal patterns comes in to play: a downtrend > congestion > mid pattern rally fulcrum > congestion and testing the lows > fulcrum breakout.
1 box reversal chart CY
And then of course, I think there was an important stage 2 (second attempt) breakout @ $11 and above $12.
On the other hand, this is a lagging stock who's relative strength against his peers is no good. But the sector (semiconductors) is still favored. The price objective is $28,5. One can compute the reward to risk when you know your stop loss...
I will add to my position when it triggers $14. For me the RR is about 7 so it is worth the risk...
I had some troubles adding attachments to this post. First with the iPad, then also with my pc. I see the attachment in 'my attachments' but I can't add them anymore to this post. Reason why one of the attachments is a URL link...
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Amedee
Pulling the weeds and watering the flowers (since 10/06/2015)...
Amedee
Pulling the weeds and watering the flowers (since 10/06/2015)...