Ambarella Inc (NASDAQ:AMBA) broke
and closed above 50-day EMA on high volume. Looks good here with plenty
of room to run to the next resistance at $68.86
Tuesday, December 1, 2015
Expedia Inc (NASDAQ: EXPE)
Expedia, Inc., together with its subsidiaries, operates as an online
travel company in the United States and internationally. The company
operates in two segments, Leisure and Egencia. It provides travel
products and services to leisure and corporate travelers, offline retail
travel agents, and travel service providers through a portfolio of
brands, including Expedia.com, Hotels.com, Hotwire.com, Classic
Vacations, Travelocity, Expedia Local Expert, Egencia, Expedia
CruiseShipCenters, eLong, and Venere.com, as well as trivago,
CarRentals.com, Wotif.com, lastminute.com.au, travel.com.au, Asia Web
Direct, LateStays.com, GoDo.com.au, and Arnold Travel Technology. It
facilitates the booking of hotel rooms, airline seats, car rentals, and
destination services from its travel suppliers, as well as acts as an
agent in the transaction, passing reservations booked by its travelers
to the relevant travel providers.
Take a look at the 1-year chart of Expedia (NASDAQ: EXPE) below with my added notations:
Over the past year, EXPE has been trending consistently higher, while also forming a nice trend line of support (blue). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. As you can see, the market deems EXPE’s trendline to be important. If EXPE breaks its current $120 support (green) traders should expect a fall to the trendline support.
The Tale of the Tape: EXPE has a $120 support and trendline support to monitor. A long position could be entered on a pullback to the $120 level with a stop placed under it. However, a break of the $120 should lead to a fall down to the trendline support, where another long play could be made.
Take a look at the 1-year chart of Expedia (NASDAQ: EXPE) below with my added notations:
Over the past year, EXPE has been trending consistently higher, while also forming a nice trend line of support (blue). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. As you can see, the market deems EXPE’s trendline to be important. If EXPE breaks its current $120 support (green) traders should expect a fall to the trendline support.
The Tale of the Tape: EXPE has a $120 support and trendline support to monitor. A long position could be entered on a pullback to the $120 level with a stop placed under it. However, a break of the $120 should lead to a fall down to the trendline support, where another long play could be made.
Chart of the Day: Walt Disney $DIS
And that’s exactly what we got…
In the days that followed, DIS would pull back from the $119.42 high on November 23 to $113.47 today. That’s more than a $6 drop… And all we had to do was pay attention to our technical reads on momentum.
More downside is expected, DIS could challenge its 50-day.
Monday, November 30, 2015
Esperion Therapeutics Inc (NASDAQ:ESPR)
Esperion Therapeutics Inc (NASDAQ:ESPR) stock is coiling up in a tight pattern for a move higher. I have highlighted a potential ascending triangle formation which if confirmed would project a target around $35. Also take note that on the daily time-frame the MACD has been moving up and the daily slow stochastics and RSI are both rising, indicating bullishness. Another good point of interest is the high amount of shorts in the stock. Could see a short squeeze possibly to >$33 once the gap is reentered. Watching over 29.5 for a trade. ESPR will move very quickly, so keep a very close eye on the stock.
ZIOPHARM Oncology Inc. (NASDAQ:ZIOP)
ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) The stock has been one of the strongest stocks the past month as it has traded from $8.66 in Ocotber, up to $14.93 in mid-Nov. The stock has pulled back to the $12.5-13 range and seems to be setting up for another upside move. It was flat for most of the week until it broke out of a triangle formation on Friday. Immediate resistance is at 13.64 (yesterday’s high). A break above that area could trigger further upside recovery testing $14 area. Watch ZIOP on Monday.
World Wrestling Entertainment, Inc. (NYSE: WWE)
World Wrestling Entertainment, Inc., an integrated media and
entertainment company, engages in the sports entertainment business in
North America, Europe, the Middle East, Africa, the Asia Pacific, and
Latin America. The company operates through Network, Television, Home
Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise,
WWEShop, and WWE Studios segments. It operates WWE Network, a live
streaming network that offers pay-per-view events, original programming,
and video-on-demand library; and produces television programming,
reality shows, and other programming, as well as produces content via
home entertainment platforms, including DVD, Blu-Ray, subscription, and
transactional on-demand outlets.
Take a look at the 1-year chart of World Wrestling Entertainment, Inc. (NYSE: WWE) below with my added notations:
WWE has formed a support level at $16 (green) over the past three months. In addition, the stock is declining against a short-term, down trending resistance level (red). These two levels combined have WWE stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those two levels.
The Tale of the Tape: WWE is within a triangle formation. A short trade could be made on a break of support or on a test of resistance. A long trade could be made at support or on a break through the triangle resistance.
Take a look at the 1-year chart of World Wrestling Entertainment, Inc. (NYSE: WWE) below with my added notations:
WWE has formed a support level at $16 (green) over the past three months. In addition, the stock is declining against a short-term, down trending resistance level (red). These two levels combined have WWE stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those two levels.
The Tale of the Tape: WWE is within a triangle formation. A short trade could be made on a break of support or on a test of resistance. A long trade could be made at support or on a break through the triangle resistance.
US Weekly Economic Calendar
| time (et) | report | period | ACTUAL | CONSENSUS forecast |
previous |
|---|---|---|---|---|---|
| MONDAY, NOV. 30 | |||||
| 9:45 am | Chicago PMI | Dec. | -- | 56.2 | |
| 10 am | Pending home sales | Oct. | -- | -2.3% | |
| TUESDAY, DEC. 1 | |||||
| 9:45 am | Markit PMI | Nov. | -- | 52.6 | |
| 10 am | ISM | Nov. | 50.5% | 50.1% | |
| 10 am | Construction spending | Oct. | 0.6% | 0.6% | |
| TBA | Motor vehicle sales | Nov. | 18.3 mln | 18.1 mln | |
| WEDNESDAY, DEC. 2 | |||||
| 8:15 am | ADP employment | Nov. | -- | 182,000 | |
| 8:30 am | Productivity | Q3 | 2.2% | 1.6% | |
| 8:30 am | Unit labor costs | Q3 | 1.4% | 1.4% | |
| 2 pm | Beige book | ||||
| THURSDAY, DEC. 3 | |||||
| 8:30 am | Weekly jobless claims | Nov. 28 | 270,000 | 260,000 | |
| 10 am | ISM nonmanufacturing | Nov. | 57.5% | 59.1% | |
| 10 am | Factory orders | Oct. | 1.6% | 1.4% | |
| FRIDAY, DEC. 4 | |||||
| 8:30 am | Nonfarm payrolls | Nov. | 200,000 | 271,000 | |
| 8:30 am | Unemployment rate | Nov. | 5.0% | 5.0% | |
| 8:30 am | Average hourly earnings | Nov. | 0.2% | 0.4% | |
| 8:30 am | Trade deficit | Oct. | -$40.6 bln | -$40.8 bln | |
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