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
30 min chart just got a bullish momentum shift on the MACD 5,9,2 settings. expect the 12,26,9 settings to follow suit. signal line on both settings comfortably above the 0 line, and there is no divergences present yet. expect more upside this afternoon. shorts should cover here
it won't take the bears long this morning to realize that their not going to be able to take FEYE back down to the 31-32 range, and it is now very likely that the 35-36 top of range is in jeopardy of being broken by the bulls. smart shorts already covering this morning. options market looking for a push north of $37 by end of week