RHAT took a big hit of roughly 10% on Friday. Its CFO quiting caused concerns among investors despite it met its earning target. It will likely break 20 support level and move down further. I bought Jul 20 Puts at 1.25. The target is between 18 and 19. The stop will be 21.
Since GSF hit the 52 week high of 30.69, it has been steadily declining. The current bounce is still within the channel lines. Will it break out? Not sure. It’s a short candidate when reaching the top channel line if overall market is not in a big swing up.
Looking at NE, it’s right at the top channel line, it’s over bought, but it has an increasing volume while going up. Let’s wait for a while to see if it breaks out or down.
MSFT closed up at 27.77. The intraday high was 27.92 with more than 100M shares changing hands.
It should attempt 28 pretty quick. The resistence is at 28.7 and support is at 26.8. I would not chase it at this moment. You may be able to wait for a pullback to go long around 27.
MSFT closed at 27.41 with heavy volume. It barely broke out the resistence, but the long candle looks less bullish. Obviously, a lot of people are selling into the pop and the buying demand could not hold up in the close. If tomorrow it has a follow up, it will be very bullish.
You can go long at the breakout or wait for the handle in a typical cup-and-handle case, but the pullback may not happen if it is very strong breakout.
MSFT closed at 27.41 with heavy volume. It barely broke out the resistence, but the long candle looks less bullish. Obviously, a lot of people are selling into the pop and the buying demand could not hold up in the close. If tomorrow it has a follow up, it will be very bullish.
You can go long at the breakout or wait for the handle in a typical cup-and-handle case, but the pullback may not happen if it is very strong breakout.