A Few Things
Hi Shoppers, Check out the candle pattern in Barrick Gold (Ticker: GOLD): Those three green candles are called the Three White Soldiers. The Japanese candlestick method uses military terms to name the candle formations and white is bullish, black is bearish. The corresponding bearish formation is called the Three Black Crows. So this is created […]
Current Market Trends
Hi Shoppers, I do believe the overall market will go lower, but I see a nice chart in United Parcel Services (Ticker: UPS): UPS has been in a downtrend since that hanging man on Aug. 19, bringing down 23.5%. Looks like we have confirmation of the hammer and UPS will trade higher from here. It […]
Keep up with the trends!
Hi Shoppers, Yesterday’s candle in Merck (Ticker: MRK) is bullish engulfing meaning it completely engulfs the previous candle. This is a bullish signal. I am thinking if MRK opens and trades higher, I will be a buyer of next week’s 88 calls for around $1.00: The first resistance level I am seeing comes in at […]
Good Books and Hammers
Hi Shoppers We all know how powerful the candlestick hammer can be. It is always found at the bottom of a downtrend signaling a change in the trend. The session continues lower, creating a long lower shadow, until the underlying hits a certain price where the shorts cover and/or the buyers enter the market causing […]
Is Anything Going Up?
Hi Shoppers, I am seeing a doji on Verizon Communications (Ticker: VZ) which could be signaling a reversal in trend: There could also be a double bottom. Just remember before jumping in, wait for the confirmation which means you want to see VZ trade higher. Also, wait until around 11 ET, which gives the market […]
We May See A Pullback
Hi Shoppers, I am looking to get long in Quantumscape (Ticker: QS): Last Wednesday formed a bullish engulfing candle and it has traded higher, flirting with the 50-day moving average on Friday. I see some resistance at $11.75, but I think it is possibly for QS to trade back up to $13.35. I cannot decide […]
Bite of the AAPL?
Hi Shoppers, Check out the doji on the Apple (Ticker: AAPL) chart: A doji can be found at the top of an uptrend or the bottom of a downtrend and it signals that there could be a change in that trend. The doji has a very small or nonexistent real body (the colored part of […]
A Good Rule of Thumb
Hi Shoppers, I am thinking Alphabet (Ticker: GOOGL) could have a doji formed yesterday: Since April 27th GOOGL has been trading in a range of basically $120 to $105. I think it is possible for GOOGL to bounce off that support line and trade higher. On its way back to $120, I am seeing resistance […]
Make Sure You Love It
Hi Shoppers, I think oil is ready to bounce from here. Here is the chart for the Oct. Crude Oil Futures: Thursday’s candle could be an inverted hammer which may be signaling a reversal of the recent downtrend. It has also held my support line just under $86. Looking at the Energy Select Sector (Ticker: […]
Hey Y’all!
Hi Shoppers, It is so much better trading together than trading alone. Yesterday in our Option Shopper Tuesday Shopping Spree, someone asked about buying a strangle in Walmart (Ticker: WMT). Buying a strangle is buying a call and a put in the same expiration month with different strike prices. Generally, you are buying the out-of-the-money […]