- Posted by Greg Harmon on October 5th, 2015 at 2:44 pm
Synaptics makes the technology that allows for all sorts of touch screen commands, including the pinch zoom, demonstrated by the late Steve Jobs above. Revolutionary technology that you did not imagine 10 years ago and cannot live with out now.
Their stock has not had such a great time though since making a high in June. Early last week it was off about 38.2% when it jumped higher after rejecting a takeover by a Chinese company.
The move took the stock over the 200 day SMA for the first time since August 3rd and drove the momentum indicators into bullish ranges. The price moved outside of the Bollinger Bands® and it started to consolidate.
That consolidation, in a bull flag, makes it interesting for a trade. The classic bull flag sees declining volume after a move up with price action either flat or falling slightly. Just like in the chart above. A break of the flag to the upside targets a move higher equal to the move into the flag. In this case up to the prior consolidation range and previous high.
Funny how that works huh? With over 10% short interest still it could happen as fast as the last move. Be prepared for the break.
Get my ebook, Markets for 2015 and Beyond, a long term forecast with all proceeds going to charity.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through September 2015 and sign up here
Top Trade Ideas for the Week October 5, 2015: Bonus Idea
Posted by Greg Harmon on October 5th, 2015 at 7:30 am
Here is your Bonus Idea with links to the full Top Ten: Intel, $INTC, stock had a consolidation period straddling the turn of the year […]
Top Trade Ideas for the Week of October 5, 2015: The Rest
Posted by Greg Harmon on October 4th, 2015 at 4:00 pm
SPY Trends and Influencers October 3, 2015
Posted by Greg Harmon on October 3rd, 2015 at 9:02 am
A weekly excerpt from the Macro Review analysis sent to subscribers on 10 markets and two timeframes. Last week’s review of the macro market indicators […]
How This Week’s Top 10 Performed, October 2, 2015
Posted by Greg Harmon on October 2nd, 2015 at 4:20 pm
Every month following Options Expiration I post performance metrics of the Dragonfly Capital Model Portfolio. This includes all trades that I entered over time. What […]
The US and China living in Harmony
Posted by Greg Harmon on October 2nd, 2015 at 8:18 am
All of the focus this morning will be on the Non Farm Payroll report. It will show more jobs added, maybe a downtick in the […]
Picking up a seasonal bargain in Tractor Supply
Posted by Greg Harmon on October 1st, 2015 at 2:52 pm
Any good bargain hunter knows that seasonality plays a part in when you buy. Swimwear is cheapest at the end of summer, snow boots and […]
I still like the US Dollar
Posted by Greg Harmon on October 1st, 2015 at 8:23 am
The monthly chart above suggests to me in a lot of ways that the US Dollar still has a long way to run higher. It […]
Going Shopping for Ascena Retail Group
Posted by Greg Harmon on September 30th, 2015 at 2:46 pm
Ascena Retail Group is a specialty retailer with several brands. The top ones are Justice, Lane Bryant and Dress Barn. Yes, this is not Neiman […]
Waiting for the Right Moment to Buy?
Posted by Greg Harmon on September 30th, 2015 at 7:16 am
There are a ton of indicators that traders use to try to get an edge on the market. And that is the major problem with […]
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)
- Pinch zooming the bull flag in Synaptics higher
- Top Trade Ideas for the Week October 5, 2015: Bonus Idea
- Top Trade Ideas for the Week of October 5, 2015: The Rest
- Top Trade Ideas for the Week of October 5, 2015: The Rest Premium
- Top Trade Ideas for the Week of October 5, 2015: The Best
- SPY Trends and Influencers October 3, 2015
- Macro Week in Review/Preview October 2, 2015
- How This Week’s Top 10 Performed, October 2, 2015
- The US and China living in Harmony
- Picking up a seasonal bargain in Tractor Supply