big block buys now on level 2. short covering is underway
impulse wave higher followed by a pullback to a higher low. slow stochastic just moved from sub 20 to over 80 in a straight line. this is going higher. shorts will have to cover. a lot of retail traders got short NDLS this morning. they will feel the pain.
it will force another round of short covering. there are also technical traders looking for a breakout above this level to enter for a quick 2% - 3% move north. It looks like this will happen this afternoon. the rsi is only at 58, so plenty of room to run
check out the 1 year view of a daily chart. there is a 6 month long cup with handle continuation pattern taking place within a well defined uptrend. the neckline is upward sloping, and sits up near $43. the measured move of this pattern is to $53, upon break of the neckline. I am long KMI, and will add to position on any weakness
neckline is broken. measured move is to $44 early next week
the 29 day consolidation came to an end yesterday. today is the first day of the new up-trend to fresh highs. notice today's higher low, next we'll get the higher high this afternoon. KMI has been in a symmetrical triangle consolidation for 29 days. the breakout, and close above $41.65 will trigger the technical buy signal. the measured move of this breakout is to the $47.50 area. short interest has ticked up north of 4% so we will see some short covering heading into the monthly options expiration on feb 20.
KMI got a bullish reversal today, failed to make a new low. symmetrical triangle consolidation now threatened to break to the upside by the bulls.
SODA on the verge of a major breakout, short squeeze (17% short) with Pepsi earnings and conference call tomorrow.
GOSY is in talks with Nissan and NASA. absolutely no downside risk here, tons of upside as they are 1 of 3 key players in mobile robotics
gap and go tomorrow. $23 target short term
buyout deal imminent
shorts should cover rest of day