Tuesday, January 12, 2016
What’s Up With The HUI And Gold?
“UP” it was, but the intermediate term chart is certainly not that
impressive, given the pandemonium that has been taking place since the
start of the New Year.
The index does seem to have carved out a bottom just above the 100 level but it must take out initial resistance near 140 and then again above the 50 period moving average to give chartists some reason to turn more solidly bullish. As things stand now, all it looks like the index has done is to bounce off a bottom and trek higher towards to the upper bounds of a sideways trading pattern. For a bullish breakout to occur, 150 will have to be cleared. (more)
The index does seem to have carved out a bottom just above the 100 level but it must take out initial resistance near 140 and then again above the 50 period moving average to give chartists some reason to turn more solidly bullish. As things stand now, all it looks like the index has done is to bounce off a bottom and trek higher towards to the upper bounds of a sideways trading pattern. For a bullish breakout to occur, 150 will have to be cleared. (more)
Monday, January 11, 2016
CVS Health Corp (NYSE: CVS)
CVS Health Corporation, together with its subsidiaries, provides
integrated pharmacy health care services in the United States. The
Pharmacy Services segment offers pharmacy benefit management services,
such as plan design and administration, formulary management, Medicare
Part D services, mail order and specialty pharmacy services, retail
pharmacy network management services, prescription management systems,
clinical services, disease management programs, and medical pharmacy
management services. The Retail Pharmacy segment sells prescription
drugs, over-the-counter drugs, beauty products and cosmetics, personal
care products, convenience foods, seasonal merchandise, and greeting
cards, as well as provides photo-finishing services.
Take a look at the 1-year chart of CVS (NYSE: CVS) below with my added notations:
CVS has created a common chart pattern known as a symmetrical triangle. Combining a down trending resistance (red) with an up trending support (green) forms the triangle pattern. As the support and resistance converge on each other the pattern is created. Since there is no true way to know which way the stock will break, most traders will wait for the breakout or breakdown before entering a trade.
The Tale of the Tape: CVS has formed a simple symmetrical triangle. A trader could enter a long position on a break above the down trending resistance (near $98) with a stop set under the entry level. However, if CVS were to break below the trend line support (currently near $95), a short trade could be entered with a stop above the trend line.
Take a look at the 1-year chart of CVS (NYSE: CVS) below with my added notations:
CVS has created a common chart pattern known as a symmetrical triangle. Combining a down trending resistance (red) with an up trending support (green) forms the triangle pattern. As the support and resistance converge on each other the pattern is created. Since there is no true way to know which way the stock will break, most traders will wait for the breakout or breakdown before entering a trade.
The Tale of the Tape: CVS has formed a simple symmetrical triangle. A trader could enter a long position on a break above the down trending resistance (near $98) with a stop set under the entry level. However, if CVS were to break below the trend line support (currently near $95), a short trade could be entered with a stop above the trend line.
Silver Wheaton Corp. (NYSE:SLW)
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