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.

Key Breakouts

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Here are four stocks positioned right at key technical breakout points.

Horizon Therapeutics Public Limited Company (HZNP) climbed 92 cents to $28.20 on 2.3 million shares Tuesday, more than 1 1/2 times its average volume.  The move, which came on no news from the drug maker targeting treatments for rare and rheumatic diseases, edged the stock out of a 2-month sideways channel.  A break above the May high near $29.25 could get the stock to $32 next.

Seattle Genetics, Inc. (SGEN) rose 96 cents to $83.38 on 890,200 shares Tuesday.  The move, on no news from the developer of cancer therapies, positioned the stock right at the declining tops line of its 2-week wedge pattern.  A follow-through breaking out of the wedge could take the stock to $89.

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Healthy Momentum

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By Harry Boxer, TheTechTrader

Medical stocks dominate today’s top charts to watch.

AbbVie Inc. (ABBV) climbed $1.72 to $73.85 on 6.2 million shares Thursday. The move came on no news from the maker of Humira and other drugs. The stock has been rallying for the last month, breaking out of a 1 1/2-year declining channel.  However, it pulled back on Tuesday and Wednesday to test support before Thursday’s bounce.  Watch for a move next to recent highs near $76.

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Semiconductor Sector; a Market & Economic Leader

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The signals have persisted since the May lows in the Semi sector and in the broad markets. Nominal Semiconductor (esp. Semi Equipment) stocks and the sector’s market leadership have remained intact into our window for a projected cycle bottom, which was the 2nd half of 2019.

This post shines a favorable light on the Semiconductor sector while at the same time acknowledging that may have little to do with the broad market’s fortunes as Q3’s reporting begins next month. In other words, while we have been projecting new highs for the S&P 500 on the very short-term, there are fundamental and technical reasons to believe the stock market could be significantly disturbed in Q4. But the Semi sector is an economic early bird. Let’s remember that.

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