As the trading session for November is beginning to wind down, we wanted to go back and take a look at some of the charts we watched November. Below we have outlined the ones that had the best momentum up based on the technical analysis we initially outlined on them. It's always great to keep track of the charts you study to see how the overall process of your work has progressed. It helps solidify the strategies you put in place to determine if your on the right track. Through out technical analysis approach we usually outline scenarios where we think a particular stock will either trend up or trend down, but we will focus on the ones we thought would trend up based on the setups!
$EVC - EVC is a stock we were watching in our 11/13/17 blog post. If you remember, we thought the 5.89 break would be a great indicator in our opinion. The last couple weeks, we saw that 5.89 level absolutely nailed! The stock showed no slowing down after this, confirming the MACD crossover and trading as high as 6.60 so far this month. How Sexy is this chart ughhhhhh!!
$DS - Drive Shack is another stock we were watching in the 11/13/17 blog post. In that post, we saw 4.13 as being a critical level in our opinion. At the time we thought a couple indicators were overheated, but at the time we also thought if 4.13 could break, there could be additional upward momentum. This is why we are in deep deep love with technical analysis. Look at that break! After breaking 4.13 levels, the stock took off to a high of 6.29 this month. Thats over 2 bucks/share in no time. Pure example how just looking at indicators (MACD/RSI) isn't always enough. wowza my friends
$SGYP - Screw it! Above we mentioned we would only show the stocks that trended up, but it's important to show the significance of technical analysis and how it can correlate to risk management! This is a great example how it can work both ways in our opinion! 3.10 was a level we thought the stock could break for potential upward momentum. If you look at the chart, the stock quickly rejected 3.10 and fell significant. If this is not an example of risk management we don't know what is!
$AMRN - Another great example of risk management here people. If you go back to the original blog post, we were watching the 3.67 level. We saw this as a significant level to break in our opinion. There was a double top forming which is historically bullish @ 3.67/share. The stock quickly rejected that break and sold off significantly. We zoomed in here in case you can't see how lovely that level was and how the stock rejected that double top break!
Comments