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Monday, September 05, 2016 

My Watchlist for Tuesday, September 06

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Sprint Corp (NYSE:S) after few weeks of flat trading around the $6 price level, the stock finally broke to the upside on solid volume. This is a very bullish move and I think stock is going to continue this bullish trend as long as the rising 20-day exponential moving average holds. Based on the long-term chart if the bullish trend continue the next key resistance level is at the 8$ area.

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Chesapeake Energy Corporation (NYSE:CHK) printed a bullish candle on Friday closing the session slightly below the high of the day. The stock trades at the high end of this consolidation range. While the support for the stock remains intact at 6.30, any close above the upper line of the range ($6.60) can indicate that the next leg of the rally could go up to the 7.2 level.

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NVIDIA Corporation (NASDAQ:NVDA) is trying to break out of consolidation, but this signal is not yet confirmed. The stock needs to break major resistance around the 63.38 level, which has been tested three times in the last four weeks, for confirmation of the trend reversal.

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GNC Holdings Inc (NYSE:GNC) is positioned for a possible upside reversal after it has been basing for a few weeks. The stock needs to close above the 21.20 price level, which has been tested three times in the last three weeks, for confirmation of the trend reversal. My first target is at 23.20. Note: Rumors of a possible takeover still circulating and the options traders are also expecting a move in the stock.

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Trimble Navigation Limited (NASDAQ:TRMB) has been forming a large flag pattern along with trending above the 20EMA. Watch this bullish pattern and play accordingly.

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Herbalife Ltd. (NYSE:HLF) Carl Icahn has purchased more 306,846 shares of Herbalife last week, after adding 2.3 million shares to his portfolio in August. If the stock continues to go up this week, I will wait and see if price breaks the upper line of the descending channel, if it does, I will trade it.

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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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