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I found this stock in passing (funny how I find some of these interesting charts without seeking them out intentionally) and it looks quite bullish in the short term. It has a textbook bullish pattern of higher lows and is meeting short term resistance near 180. Fundamentally it seems cheap as well as the PE ratio is a mere 2.14. I think this has a decent chance to breakout and will be watching for the break above $180
If I have to buy something this year, I’m not buying Nasdaq stocks. Instead, here are two bullish looking emerging markets, the international powerhouses that are Argentina and Greece.
Argentina already broke out. Greece is back to resistance
Back in October we began to plan the prospect of a relief rally that would be fueled by over-bearish sentiment (contrary bullish), ‘Fed hawk’ relief as we anticipated inflation signals to ease, and a post (mid-term) election seasonal pattern that is bullish for stocks. This public article had a lot to say about that on November 10th:
(more…)Well, there we have our setup for tomorrow morning’s CPI number. The bulls have a beautiful cup with handle bullish base established and ready to enjoy. They need to follow through cleanly for this to stick:
This is very typical of a bear market, when completely garbage companies, and their garbage stocks, rally massively after being beaten nearly to death. As you can see, the bounces have been swift and powerful, but they’re also butting right up against overhead supply and important price gaps.
