Thursday, October 22, 2015

Will These Stocks Plunge Next? : $VRX, $APD, $MDLZ, $PAH, $ZTS, $QSR, $VRX

With Valeant having collapsed over 30% today alone, now under $100 for the first time in a year (from highs over $260 in August 2015):

Someone just dumped a bucketload of VRX...(more)

The Key SP500 Price Pivot Planning Level to Trade

What’s the current major “Bull/Bear” Pivot Price for the S&P 500? On what level should we be focusing?
Let’s take a laser-like focus on this price level and plan our strategy for the rest of the week.
Here’s the simple pivot in the S&P 500:

Our key focal point is 2,033 (technically 2,030 to 2,040) for this week’s bull/bear pivot planning.
This level reflects the 61.8% “last line in the sand” Fibonacci Retracement of the August collapse and recovery.
Ultimately, what happens here determines whether we are “ignore it all” buyers (bulls) above 2,040 or cautiously bearish, anticipating another pullback from resistance.  (more)

Stocks to Watch: $CAM, $AAPL

Cameron International Corporation (NYSE:CAM) is setting up for another run. Lets see if it breaks over $67.61. Long set-up on watch.

Apple Inc. (NASDAQ:AAPL) could breakout at any moment IMO Next buy point when clears 117 on heavy volume. The MACD momentum is rising and RSI is on a decent uptrend, which when combined with the strengthening MACD could spell a nice move for the stock.

Dycom Industries, Inc. (NYSE: DY)

Dycom Industries, Inc. provides specialty contracting services in the United States and Canada. The company offers a range of specialty contracting services, such as engineering, construction, maintenance, and installation services comprising placement and splicing of fiber, copper, and coaxial cables to telecommunications providers. It also provides underground facility locating services, including locating telephone, cable television, power, water, sewer, and gas lines to various utilities, which comprise telecommunications providers. In addition, the company offers tower construction, lines and antenna installation, and foundation and equipment pad construction services for wireless carriers, as well as equipment installation and material fabrication, and site testing services; and installs and maintains customer premise equipment, such as digital video recorders, set top boxes, and modems for cable television system operators.
Take a look at the 1-year chart of Dycom (NYSE: DY) below with my added notations:
DY ascending
DY has hit resistance at $80 (red) multiple times over the past couple of months. In addition, the stock has been climbing a trend line of support (green) since the beginning of September. Eventually, the stock will have to break either the $80 resistance, which would be a 52-week high, or the trendline support.

The Tale of the Tape: DY is winding up between two key levels. A long trade could be made at the trendline support or on a break above $80. A break below trendline would be an opportunity to enter a short trade.