TUR has been in a sideways consolidation since mid 2018. In Dec 2021 (3rd week of month), demand showed up in a major after washing out and springing the multi year lows (08/18, 3/20, 10/20). This was was the widest spread bar, on the highest volume in this multi consolidation since the climactic low in Aug 2018; price closed near the highs and is emblematic of...
With the SP500, Nasdaq, and Russell each at all-time highs as of Friday's close, you would think the Dow would be right there with them; but it isn't. On its own, this doesn't necessarily foreshadow lower prices. However, as we add to the story there may be a little more going on with the Dow. Taken from the 2009 low around $65 (not coincidentally, the...
Over the past 4 months PSA has shed nearly 25% from its peak around $266. Moreover, during the same time period, the XLRE (Real Esate ETF of which PSA is a part of) gave back just 7% +/-. So, will the under performance continue? Or, will PSA rebound from current levels and offer a chance at some upside while delivering around a 4% dividend? If indeed the...
After trading mostly sideways for the better part of 2018 (effective range between $50 on the upper end and $42/$43 on the low end), SO eventually confirmed the bottom was in place and has gone on to gain roughly 45% YTD in 2019 (impressive rip for a utility). So, is this the end of the rally or just a breather before another leg up? Since the beginning of Q4 SO...
After an earnings miss in late October (10/22) which saw the stock trade 8% lower, TRV has slowly trudged higher and has recovered half of that loss over the past two months. That being said, we are starting to see signs of waning buying pressure. Since the beginning of December(12/2 high of 137.26), TRV has been tracking sideways in what looks like a retest of...
After chopping sideways fora couple months, KMI finally broke out of its consolidation above $20.50 on 6/6/19. After briefly eclipsing the $21 level, the stock has come back in to retest this breakout. A move away from this level and above $21 opens the door for a test of the $24-$25 level where price broke down in late 2015. Long above $20.50, out on a close below.
NFLX has bounced a few times from the $341-342 level as buyers have continued to protect a deeper sell-off. This is most evident in the false breakdown on June 3 where price fell to around $331 but quickly snapped back above the $341 level the following day. That being said, NFLX has repeatedly failed to move higher off of this support level and is in danger of...
The XLI looks poised for another leg lower after unsuccessfully retesting the breakdown from early May ($76-$77 level). After a strong bounce out of the descending wedge in early June, the XLI could be carving out a channel off of the top it printed in early April at $78.95. This bounce came right into previous support (the 4/25 low at $76.59) and reversed lower...
On the heels of its most recent run up, Zillow (Z) looks to be setting up to push higher. Since the low printed in Nov 2018, Z has steadily begun to carve out higher lows and has finally been able to generate momentum following its initial earnings reaction (5/9). After more than a 50% rip from the low on 5/2 ($31.75), Z finally started to retrace at and around...
On the current up move from the Dec 2018 low, AXP has continually used prior resistance as support to push higher: the move in late March from around $108 to $120 moved off of the Feb highs and the current leg from $114 to $125 used the mid March highs as a starting point. Currently, AXP could be bouncing off the May 22 high around $121 in an effort to move...
ANTM has seen steady increases off the low it printed in mid April and has outperformed the market through the May volatility. However, it looks as if this strength is running out of steam and may present a decent short opportunity. Looking first at the volume, the buying pressure as noted by the Weis Waves (cumulative volume w/o a retrace) has begun to dry up: ...
