Stocks To Watch: JUNO, MU, OREX

Juno Therapeutics Inc (NASDAQ:JUNO) starting to get some momo once again on 30m chart. The stock showed buying strength all day. The 55-55.38 area is a critical resistance region that can determine overall bias for the stock in short-term. Above this level could test 60 next. Note also that the MACD is about to make a bullish cross. On watch.

Micron Technology, Inc. (NASDAQ:MU) There was an unusually high call options activity today (strike $20 JAN2017). I believe this could signal a bottom. On the hourly time frame, technical indicators are giving some positive divergences. As noted yesterday, the bounce could start at any time.

Orexigen Therapeutics, Inc.(NASDAQ:OREX) is looking good to me. I am very pleased about how the stock has pulled back to its EMA13 after its large move on Monday. For the coming days, a breakout above the 5.19 level would signal the start of a new uptrend that could potentially test the EMA200 around the 5.80 area.

McDonald’s Corporation (NYSE: MCD)

McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States, Europe, the Asia/Pacific, the Middle East, Africa, Canada, and Latin America. The company’s restaurants offer various food products, soft drinks, coffee, and other beverages. As of December 31, 2014, it operated 36,258 restaurants, including 29,544 franchised restaurants comprising 20,774 franchised to conventional franchisees, 5,228 licensed to developmental licensees, and 3,542 licensed to foreign affiliates; and 6,714 company-operated restaurants.
Take a look at the 1-year chart of McDonald’s (NYSE: MCD) below with added notations:

After rallying in January and February, MCD has been trading mostly sideways since the March 1st peak. During the sideways move the stock has formed a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern.
MCD’s rectangle pattern has formed a resistance at $100 (red) and a $94 support (green). At some point the stock will have to break one of the two levels.

The Tale of the Tape: MCD is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $94 or on a breakout above $100. The ideal short opportunity would be on a break below $94.
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Trade of the Day: Buy Apple Stock AAPL

Apple Inc. (AAPL) — The company’s high-tech hardware, including the iPhone, iPad and Mac computers, make it one of the most well-known brands in the world. It is also a leader in customer satisfaction.
Capital IQ expects profits to be enhanced by increased volumes, more common components and an increased focus on software and services. Its analysts believe Apple’s “superior ecosystem” and new product launches will keep iPhone customer retention rates high. While it’s still early, they predict the company’s latest gadget, the Apple Watch, will be a success.
Capital IQ estimates earnings of $8.95 per share for fiscal year 2015 (ending in September), up from $6.45 last year, and $9.54 in FY 2016. Its analysts have a 12-month target of $150 on AAPL stock.
Free cash flow generation is a positive, and the company’s massive cash position of $194 billion can be used for stock repurchases, dividends and acquisitions.
Following a run from about $80 in April 2014 to above $134 in April 2015, AAPL stock has been consolidating in a rectangle with resistance at roughly $135 and support at its May low of $123.36. And under that support line is a trading range of support.
Sellers have dominated since March, but this high-quality technology stock is a traditional target for institutional buyers.
Since the current market crisis has little to do with Apple’s success, I believe it is time for traders to step up and enter orders to buy AAPL stock under $122 for a trade to $150 in four months. With a P/E ratio of 14 times estimated fiscal 2015 earnings, AAPL stock is also suitable for long-term investors who wish to hold shares for an indefinite period of time.

Crude Oil Weakness is Not Gold Friendly

by Dan Norcini
Trader Dan
Amidst all the talk about “Grexit” ( are the rest of the readers as sick of hearing about this as I am at this point?), one thing being overlooked, especially by those who keep calling for some sort of rip roaring surge higher in gold and silver, is the fact that crude oil is weakening.
In short, with many looking at the situation in Greece as contributing to a hit on economic growth, and with the fact that China is struggling, crude oil is moving lower as traders are concerned over a SLOWDOWN IN DEMAND.
Continue Reading at TraderDan.com…

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ConocoPhillips (NYSE: COP)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide. Its portfolio includes shale and oil sands assets; lower-risk legacy assets in North America, Europe, Asia, and Australia; various international developments; and exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
Take a look at the 1-year chart of Conoco (NYSE: COP) with the added notations:

COP declined into December of last year. When the stock finally bottomed, COP ended up finding support at $60.00 (green) over the next 7 months. Now that the stock appears to be falling back down to that support level again, traders should be able to expect some sort of bounce. However, if the $6o.00 support were to break, lower prices should follow.

The Tale of the Tape: COP has an important level of support at $60.00. A trader could enter a long position at $60.00 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.
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With Market Closed, Trading Greek ETF GREK Is Gamble, Guessing Game

“The ETF can’t be more liquid than the underlying, and we know the underlying can be become quite illiquid” – Howard Marks

There’s been quite a bit of spirited discussion this year about whether ETFs provide liquidity. The proliferation of exchange traded bond vehicles and the concurrent decline in dealer inventories has led some to question whether investors are being lulled to sleep by so-called “phantom liquidity.”
Barclays took a close look at the issue recently and discovered that since 2009, the “net” portion of gross bond ETF trade volumes had declined from over 20% to just 12%, which the bank cites as evidence that ETFs are adding liquidity to the market.
But this could simply reflect the fact that volumes for ETFs that track assets like junk bonds have skyrocketed over the same period, with low yields fueling both the supply and demand side of the equation and thereby increasing the likelihood that flows will be diversifiable (versus unidirectional).

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Commercial Metals Company (NYSE: CMC)

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. The Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment operates 5 steel mills producing reinforcing bars, angles, flats, rounds, small beams, fence-post sections, and other shapes. The Americas Fabrication segment operates fence post manufacturing plants, construction-related product facilities, and plants that bend, weld, cut, and fabricate steel. The International Mill segment engages in mill, recycling, and fabrication operations through the operation of two rolling minimills that produce reinforcing bar (rebar) and merchant products. The International Marketing and Distribution segment processes, sells, and distributes steel products, ferrous and nonferrous metals, and other industrial products.
Take a look at the 1-year chart of Commercial Metals (NYSE: CMC) below with my added notations:

Starting in September, CMC declined into January, and from there the stock started a 5-month rally. During the decline, and subsequent rally, CMC created a very clear level of resistance at $17 (green). A break above that $17 level should mean higher prices for the stock, and on Friday CMC broke that level. And for confirmation, the stock broke out on a major increase in volume.

The Tale of the Tape: CMC broke through its key level of resistance at $17. A long trade could be entered on a pull back down to that level. However, a break back below $17 could negate the forecast for a higher move and would be an opportunity to get short the stock.
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