- Posted by Greg Harmon on September 18th, 2014 at 2:28 pm
It’s late in the week, and we have already gotten through the Federal Reserve Open Market Statement, with Alibaba and Scotland votes on tap. Time for a beer. Specifically a Craft Brewers Alliance, $BREW. Not to drink, you still need a clear head for the rest of the week and Option Expiration, but to add to your portfolio.
The chart above tells why. After a long downtrend this year capped by the falling red resistance line, the stock price is now breaking to the upside. Additionally there is a Cup and Handle pattern triggering as the price moves over the most recent prior high level at 13.57. This gives a target to the upside at 17.07, near the start of that red line. That sounds good as it is. But with a little imagination you can see that a move over 15 the late April high would make for another big Cup and Handle, maybe a Pint and Handle that would target 20. Cheers!
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Playing Gold From Down Under
Posted by Greg Harmon on September 18th, 2014 at 8:02 am
Australia has long been known to currency traders as a country where the currency is highly tied to swings in commodities. But over the last […]
Stalking Illinois Tool Works for a Trade
Posted by Greg Harmon on September 17th, 2014 at 3:11 pm
The chart of Illinois Tool Works ($ITW) stock price looks a lot like the temperature here in Cleveland. Rising into the summer, but then the […]
Is the Run in the Chinese Market Over?
Posted by Greg Harmon on September 17th, 2014 at 7:44 am
The Chinese market has been on a tear lately. So it is no surprise when you look at the weekly chart of the Shanghai Composite […]
Trading Yahoo in a Post Alibaba World
Posted by Greg Harmon on September 16th, 2014 at 3:32 pm
By the end of the week Alibaba ($BABA) will be trading on its own. I do not think there is anyone on the planet that […]
Another Reason the S&P 500 Could Reach 2500
Posted by Greg Harmon on September 16th, 2014 at 8:02 am
I spent a few minutes with Jeff Macke at Yahoo Finance last week talking about the S&P 500. I was a little afraid to meet […]
The Cup Looks Full on Sally Beauty Holdings
Posted by Greg Harmon on September 15th, 2014 at 2:58 pm
Sally Beauty Holdings, $SBH, hit my radar this weekend as a stock that is setting up to make a move. The chart below shows the […]
My Thoughts on A Possible Pullback on the S&P 500 (video)
Posted by Greg Harmon on September 15th, 2014 at 11:28 am
I did a quick video with Jeff Macke at Yahoo Finance last week in New York in between speeches at the All Stars of Options […]
Top Trade Ideas for the Week of September 15, 2014: Bonus Idea
Posted by Greg Harmon on September 15th, 2014 at 8:07 am
Top Trade Ideas for the Week of September 15, 2014: The Rest
Posted by Greg Harmon on September 14th, 2014 at 5:00 pm
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Buy a Pint and Handle of Brew
- Premium Earnings 9-18-14
- Playing Gold From Down Under
- Stalking Illinois Tool Works for a Trade
- Premium Earnings 9-17-14
- Is the Run in the Chinese Market Over?
- Trading Yahoo in a Post Alibaba World
- Premium Earnings 9-16-14
- Another Reason the S&P 500 Could Reach 2500
- The Cup Looks Full on Sally Beauty Holdings