Tech Patterns March 2013

Update Thursday 28th March 2013:
The following stocks have moved to take prime view given their triangle formation status:
YUM: This stock is approaching new highs. It may turn back down but a break close and hold above the $75 level would be quite bullish:

 

INTC: this has broken up and out from a symmetrical type triangle pattern. I’m waiting to see more momentum on the ADX though: 

 

NUE: is still range bound in a channel but a break, close and hold above the $50 level would be quite bullish. It has a way to go yet and may not achieve this BUT it doesn’t hurt to keep an eye on it!

 

AVP: I noted this in my Stocks: March page last night. It is looking quite attractive at this rate:
NG: This keeps my interest especially as I watch to see how Gold tracks:

 

CCL: This stock has had a triangle break down. I’m watching for Put buying here:

 

CNQ: This dividend stock has had a triangle break up. The April $31 Put is at 0.30 cents:

 

GD: this is another dividend stock with Morningstar Fair value @ $82 but it is trading at $70. The April $67.50 Put is only fetching 0.40 cents. It might be a better Call buy if it breaks out and up!:

 

JOY: triangle looming:

 

PG: has made a new high after an ascending triangle break up:

 

Update Monday 4th March 2013:

My triangle breakouts continue with good success. The following stocks are ones that I am keenly tracking for potential breakouts:

Gold and Gold stocks:
These Gold stock trades (below) will depend a lot on what Gold does over the coming days. I’m watching Gold to see if the $1,525 level will form a floor for price and, thus, be a possible bounce point for the metal. Respect of the $1,525 support level for Gold may see Gold stocks reverse their recent falls. Failure of this support level though would seem to be rather bad news for Gold stocks and may see breakouts to the down side, rather than the upside. I’m watching out for both!
Gold monthly: looking to see if the $1,525 level is tested and, if so, can it then hold:

Gold weekly:

Gold daily: 

NG daily: The $3.50 area looks like strong support here. I’ll be watching to see if this level holds and, if so, then I want to see a triangle break to the upside:

NG weekly 

ABX monthly: I’m watching the $25 support level here:

ABX weekly

ABX daily 

EGO weekly

EGO daily

GDX weekly: the break in the $40 support level here is not encouraging though:

GDX daily

GDXJ weekly: ditto here as for GDX

GDXJ daily:

GLD weekly: this chart isn’t too encouraging …just at the moment:

GLD daily:

BTW: TIF: I see this breakout has moved on now:

 

Leave a Reply

Your email address will not be published. Required fields are marked *