Tuesday, December 15, 2015
Alibaba Group Holding Ltd (NYSE: BABA)
Alibaba Group Holding Limited, through its subsidiaries, operates as
an online and mobile commerce company in the People’s Republic of China
and internationally. It operates Taobao Marketplace, an online shopping
destination; Tmall, a third-party platform for brands and retailers;
Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale
marketplace; Alitrip, an online travel booking platform; 1688.com, an
online wholesale marketplace; and AliExpress, a consumer marketplace.
Take a look at the 1-year chart of Alibaba (NYSE: BABA) below with my added notations:
Over the last 5 months BABA has formed an inverse head and shoulders reversal pattern (green). I have noted the head (H) and the shoulders (s) to make the pattern more visible. The stock’s neckline resistance is at the $85 level (Red). BABA will confirm its H&S if it breaks through the neckline.
Keep in mind that simple is usually better. Had the inverse H&S pattern never been pointed out, one would still think BABA was moving higher simply if it broke through the $85 resistance level.
The Tale of the Tape: BABA has formed an inverse head & shoulders pattern. A long trade could be entered on a break through the $85 level.
Take a look at the 1-year chart of Alibaba (NYSE: BABA) below with my added notations:
Over the last 5 months BABA has formed an inverse head and shoulders reversal pattern (green). I have noted the head (H) and the shoulders (s) to make the pattern more visible. The stock’s neckline resistance is at the $85 level (Red). BABA will confirm its H&S if it breaks through the neckline.
Keep in mind that simple is usually better. Had the inverse H&S pattern never been pointed out, one would still think BABA was moving higher simply if it broke through the $85 resistance level.
The Tale of the Tape: BABA has formed an inverse head & shoulders pattern. A long trade could be entered on a break through the $85 level.
Gold Speculators Raise Net Bullish Positions For 1st Time In 6 Weeks
Weekly Large Trader COT Report: Gold
Gold Speculators Chart
Gold net speculative positions totaled +19,623 contracts
GOLD Non-Commercial Positions
Gold speculator and large futures traders increased their gold bullish positions last week after five straight weeks of declining positions, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. (more)
Gold Speculators Chart
Gold net speculative positions totaled +19,623 contracts
GOLD Non-Commercial Positions
Gold speculator and large futures traders increased their gold bullish positions last week after five straight weeks of declining positions, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. (more)
Monday, December 14, 2015
BNN Top Picks: Franco-Nevada $FNV, BCE $BCE, Agnico Eagle $AEM
FOCUS: Resource & Utilities Stocks and REITs
MARKET OUTLOOK:
Three of my BNN top picks are beating the Dow year to date in U.S. dollar. It’s surprising because the industry index (HUI) is down 30 percent during this same period, and they are the three precious metals producers that I have been consistently recommending for the last three years. Detour Gold is leading the charge up 30 percent followed by both Agnico Eagle and Silver Standard up 10 percent, in contrast the Dow is flat for the year. That goes to show that good old fashion stock picking still works. These numbers are much greater in the Canadian dollar. (more)
Sunedison Inc (NYSE:SUNE)
Sunedison Inc (NYSE:SUNE) had a volatile but indecisive movement on Friday. Moves of key indicators on daily charts suggest continuation of positive bias for the stock. Plus, chart shows an ascending triangle formation in progress. The key level to watch here is the upper resistance at around 4.37.
US Weekly Economic Calendar
| time (et) | report | period | ACTUAL | forecast | previous |
|---|---|---|---|---|---|
| MONDAY, DEC. 14 | |||||
| None scheduled | |||||
| TUESDAY, DEC. 15 | |||||
| 8:30 am | Consumer price index | Nov. | 0.0% | 0.2% | |
| 8:30 am | Core CPI | Nov. | 0.2% | 0.2% | |
| 8:30 am | Empire state index | Dec. | -- | -10.7 | |
| 10 am | Home builders' index | Dec. | -- | 62 | |
| WEDNESDAY, DEC. 16 | |||||
| 8:30 am | Housing starts | Nov. | 1.13 mln | 1.06 mln | |
| 9:15 am | Industrial production | Nov. | -0.3% | -0.2% | |
| 9:15 am | Capacity utilization | Nov. | 77.2% | 77.5% | |
| 2 pm | FOMC statement | ||||
| 2:30 pm | Janet Yellen press conference | ||||
| THURSDAY, DEC. 17 | |||||
| 8:30 am | Weekly jobless claims | Dec. 12 | N/A | N/A | |
| 8:30 am | Philly Fed | Dec. | -- | 1.9 | |
| 8:30 am | Current account | Q3 | -- | -$110 bln | |
| 10 am | Leading indicators | Nov. | -- | 0.6% | |
| FRIDAY, DEC. 18 | |||||
| None scheduled | |||||
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