Friday February 14th
It is important to know that today is Friday, the last trading day of the week, and in the US it is also another 3 day weekend. The Markets are closed on Monday in the U.S., so adjust your portfolio ( if needed) . There really wasn’t any change with the General Markets, they remain above the 10 sma.
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WTIC – Oil closed above the 10 sma and a down trend line, so this should confirm that a daily cycle low has formed. It is also very oversold, however…
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XOP – The XOP struggles with follow through. It is also oversold and the MACD does look ready to cross upward, so a low should be forming here too. I know that I have some ‘GUSH’ traders here asking for an entry point… I would say that with Oils lows, I would say that this should be as low as XOP goes for now, so a cautious buy of GUSH may be fine, USE A STOP, MAYBE START SMALL.
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GOLD – Gold actually looks bullish here with yesterdays rise on increased volume. The hard part for those trading in the U.S. is that the markets will be closed until Tuesday, but Gold starts trading on Sunday night. At this point, Gold looks as though it wants to break higher.
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SILVER – Silver is pushing right at the down trend line and closed slightly above the 50sma. A push higher from here would be bullish. I have been pointing out a large inverse H&S formation too.
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GDXJ – This looks ready to break out higher, we’ll see what Friday gives us, but so far the GDXJ has held up on the 50 sma.
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The set up for the precious metals sector has been choppy as it has had a prolonged consolidation. As of Friday pre-market, the set up looks increasingly Bullish. We’ll see if Fridays trading can increase the bullish look of this set up. As a reminder, The markets are closed Monday in the U.S.
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Enjoy your Friday trading and long weeeknd!
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~ALEX
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AUY – I captured this push higher 1 hr into trading yesterday and posted the chart in the live area. Even in all of this choppiness, stocks like AUY have been Bullishly climbing the 50 sma. The 50 & 200 sma are both slanting upward.
NOTE: After hrs AUY reports 3rd Qrtr EPS of $0.04, a beat by 1 cent. Revenue was $493 Million , up 6.6% YOY, beat by almost 4 million. The stock was pretty much unchanged in after hrs, but the chart looks good so far. We’ll see what happens on Friday.
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BARRICK – Barrick tried to break out Thursday. I have heard people say that they can’t find any bullish looking Mining charts. I’m not sure what they are looking for, but this is another bullish looking Miner. That is a Cup & Handle rising on the 50 sma. It ran from $11 to $20 ( big gains) and then consolidated those gains.
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ELYGF – This drop tagged the 13 ema and reversed strongly Thursday. With that reversal, this actually looks like it may do another run higher now.
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I HAD POINTED OUT THE BULLISH ACTION IN NAKs BASE. I thought that it would just run to that 200 sma & crawl along it, so I didn’t take the trade. I wrote this on Feb 11 after it stalled…
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NAK – After that stall it then ran to that 200sma Wednesday. Thursday it popped 25% slicing right through it. I missed that trade, but at least 2 people told me that they did grab it, so congrats. If you have been here for a couple of years, you will remember that we rode NAK from the 40 cent area to $3+ , adding along the way. THAT turned out to be a very good trade, so you may just want to try to hold on if this gets going. Small bull flag pull backs were all we got.
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NAK – Should you sell the recent pop that now gives it about 50% gains over the 50sma? That is up to you. It will have pull backs along the way (as seen in 2016), but it may begin to try to recover if they get approvals for their mining. I have always viewed them as a buy out target, because they sit on MASSIVE underground reserves. That said, it may break out or it could continue to base.
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SBGL – I bought SBGL as it crossed this line, and posted this chart in the live area saying that I bought it. The set up is bullish as it back tested the 50sma.
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SBGL – It was up 11% at one point, but settled the day up
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SBGL – I already rode part of this run up out of the base, but SBGL recently stalled at resistance. I think it may be ready to continue higher now, and this chart shows the potential of this steady climb.
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PLG – After a big run from $1.35ish to $3.00, PLG looks possibly ready to move higher too. SBGL & PLG are both platinum. How is the big pic on this one?
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PLG WKLY – Wow, the potential is great. I would say that as long as they don’t release bad earnings or have any other problems, this could be a nice Buy & Hold too.
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AMD – AMD continued higher
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CSIQ – This Solar stock dropped to the 8 ema, but then rebounded. As you may recall, I bought SPWR too, and it had what looked to be great earnings, yet it crashed & stopped me out…
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SPWR – I didn’t see a problem with the earnings, but it dropped & stopped me out. I’m guessing that it goes to the 50 sma first and then it may begin to recover 🙁
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FCEL – I own FCEL, this is the weekly chart showing nice potential if it remains bullish.
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INO – I used to trade INO as a Pharma company, along with IDRA, ZIOP, VSTM, etc. INO tripled since October and has now pulled back to the 50sma & Popped again with strong volume. I’m not buying it here, but if it drops again & fills yesterdays gap at the 50 sma again, I may buy that. (Watch list)
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PAGS – I traded PAGS for a small part of that Dec run. It tagged the 50sma on a pull back and Popped yesterday. It may be ready to run again if the General Markets can stay bullish. Your stop could be under the 50sma , AND under the recent set of lows. It broke the 50 slightly each time.
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PDS – PS was also recommended in December. It almost doubled in a month. You may want to Check when the earnings are due out, but it broke the 50sma and volume is increasing, so it looks bullish again.
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ROKU – I’ve discussed that ROKU looked bullish and broke the 50sma & down trend recently. Earnings were Thursday, so that caused me to be cautious. After the release last night, Roku was up $8 after hrs ( where the XX is). One thing that I will say about earnings…
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TWTR – I have seen 3 companies Gap open big with good earnings, and then drop & gap fill, so that makes it tricky for ROKU, but so far TWTR did that and is now likely ready to move higher. I posted it as a buy here both Yesterday & today.
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TSLA NEVER lost the 10 sma, so this may actually be ready to go higher again after flagging a consolidation. This may now truly go parabolic.
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ZM – Zoom Video also looks ready to go after a bull flag consolidation, so maybe all of these bullish set ups indicate that the general markets will continue higher for a bit longer.
