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.

FAANG’s Bitemarks

By -

As the earnings season starts to wind down, it seems the big message from the FAANG stocks is that, earnings projections be damned, this market wants to go up. Just look at what we’ve seen from the components:

  • FB: reported after the close on the 30th; company clearly has turned itself around and price exploded nearly 20% the next day;
  • AMZN: reported after the close on the 31st; stock got absolutely reamed, losing nearly $100 the next day; market didn’t budge;
  • AAPL: reported after the close on the 29th; in spite of softening sales and weakness from China, stock skyrocketed the next day;
  • NFLX: reported after the close on the 17th; stock slumped for a few days but has since recovered and is now rumored to be a buyout candidate from fellow FAANG member AAPL;
  • GOOGL: reported after yesterday’s close……..
(more…)

Two Marijuana Stocks Among Four Charts Looking Higher

By -

Two cannabis stocks are among our four charts to watch today.

Aphria Inc. (APHA) popped $1.08, or 14%, to $8.74 on 13.7 million shares Thursday, nearly twice its average volume.  The move came on a Bloomberg report that Green Growth Brands (GGBXF) is open to negotiations regarding its attempt to buy the Canadian marijuana company. Watch for a move next to $9.50, as momentum is strong, followed by $10.50, which is next lateral resistance.

Cronos Group Inc. (CRON) rallied $1.25 to $19.68 on 29.5 million shares Thursday, more than 2 1/2 times its average volume on no news.  Shares in the cannabis investment firm doubled in January, and look poised to continue higher towards the top of the steeply ascending channel near $24.

Evolus, Inc. (EOLS) popped 73 cents to $16.35 on 575,024 shares.  The move came on no news from the provider of medical aesthetic products.  The stock has been rallying off the bottom of its declining channel since December, though it hasn’t yet broken out above the declining tops line.  It’s been up for five sessions in a row on strong volume, and closing in on that declining tops line as well as lateral resistance.  A break through here could lead to a run to $21. 

Qutoutiao Inc. (QTT) jumped $1.22 to $10.92 on 2 million shares Thursday on no news.  Shares in the Chinese viral-content site, which have nearly tripled since early December, broke out of a mini wedge and above lateral resistance.  Next target is $13.50.

Cannabis Tops Our Watchlist

By -

Two cannabis stocks are among our four charts to watch today.

Aphria Inc. (APHA) jumped 40 cents, or 6%, to $7.08 on 9.1 million shares Tuesday on news that Green Growth Brands Inc. (GGBXF) made a formal offer to acquire the Canadian cannabis producer.  The stock, which has been in a steadily rising channel off its December low, pulled back for much of last week on low volume ahead of Tuesday’s breakout. There’s a gap to fill at around $8 from the early December gap-down, a move through which could get the stock to near-term targets at $8.50 and then $9.25.

Canopy Growth Corporation (CGC) gained 12 cents to $43.66 on  8.8 million shares Tuesday on no news from the Canadian marijuana producer.  The stock has had a steep run-up this month before consolidating in recent sessions.  A move through the November highs near $46.50 could accelerate the stock further into the low-to-mid $50’s. Keep in mind that $40.50 is a triple intraday support platform from last week.

(more…)

Four Breakout Stocks to Watch

By -

Here are four stocks from a range of industries breaking out primarily on news, continuing strong technical trends off December lows.

Attunity Ltd. (ATTU) surged $1.48 to $23.39 on 709,200 shares Wednesday on more than double its average volume.  The move came ahead of the data management software company’s announcement today that it will release its quarterly and annual financial results on January 31.  The move positioned the stock right up against a triple top going back to November. The stock’s On-Balance Volume indicator is making new highs ahead of price, a positive sign.  A break through here could lead to $28 next.

(more…)