Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

TSLA: Next Target 450?

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Tesla’s (TSLA) meteoric rise from June this year has sent it to all-time highs, as shown on the following monthly chart…and has resulted in a 119.67% gain since then, as shown on the next graph. It’s been heavily favoured above the FAANGs.

Based on the trajectory of the Andrew’s Pitchfork formation, its next major resistance lies around the 450 level.

The Balance of Power lies firmly with buyers and is approaching an all-time high. Watch for that to continue on this longer-term timeframe to support a further rally.

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Momentum Stocks to Watch

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These four stocks are moving on news and gaining technical momentum.

Axsome Therapeutics, Inc. (AXSM) jumped $8.60 to $89.57 on 2.6 million shares Wednesday, more than double its average volume.  On Monday the biotech company said its experimental treatment for depression met the primary endpoint in a Phase 3 clinical trial. The move popped the stock through the top of an already steep channel rising from the $20 level just two months ago. Watch for $106 next.

Bed Bath & Beyond Inc. (BBBY) gained 84 cents to $17.72 on 10.5 million shares Wednesday. The move followed news of a restructuring in which six senior leaders are leaving the specialty retailer.  The stock has been stair-stepping up its rising channel since its mid-August low at $7.31, and the channel top now points to a target of $20-$20.50.

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Breakout Charts to Watch

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By Harry Boxer, TheTechTrader.com

Two retailers popping on earnings Thursday are among our top charts to watch.

Express, Inc. (EXPR) jumped $1.09 to $5 on 6.7 million shares Thursday, more than 4x its average volume. The apparel retailer released third quarter financial results that beat analyst estimates. After a 12-month decline, the stock has been in a rising channel since September, and Thursday’s 28% move broke it out above the channel top, closing right at lateral resistance. Next target is $5.75, last reached in January.

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