I may be crazy but I see a cup and handle formation on $FB. Today's volume was almost 2x the 20day average. I am looking for a breakout above 33.75 to confirm this pattern's bullishness.
Friday, June 22, 2012
Thursday, June 21, 2012
Retail stocks rolling over
This is a look at the XRT that tracks retail stocks. There is a pattern of lower highs and break of key support on volume. I'm looking to hit certain retail stock hard to the downside.
Short Set-up NIKE $NKE
$NKE clearly breaking down. After making a 114 high, it failed to climb higher making 3 successive lower highs. After falling through the 200ma on volume this stock is clearly headed lower.
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