I think that we will continue to see DDM move upward over the long term and a buying point might be a touch to the bottom support or break through $65. 

Just thought this was note worthy.

I think there are two potential options:

1. If the price can fill June’s tiny gap and break through $8.53 then we could see the price move towards resistance @ $9.17 and then $10.19.
2. Option 2, which i think is the most likely, is that the price may drop down to $7.14 and bounce off of that support and either ping pong in that sideways channel or again test $8.53 and higher.

I think option 2 will pan out though mainly because i see the RSI looking good… BUT, there is a downward turn on the end (circled) indicating a healthy but minor price correction may take place.

The Slow STO is also showing this same type of signal and has somewhat rolled over.

Buy on bounce around support of $7.14 and/or buy on confirmational cross through $8.53.  Look for resistance @ $9.17 and $10.19.

If the price moves below $7.14 then forget it.

“The Ultra Dow30 seeks investment results generally equivalent to twice (200%) the performance of the Dow Jones Industrial Average Index.”

That said, there are some very positive signals on this chart (circled in red) that indicate a market rally is probably going to take place soon.

Right off the bat this is what I’m seeing:

1. The downward channel that began early May was tested and then broken on OK volume.  I say OK because it was above average but the day before (the test) was better.
2. Resistance @ $61.45 was also broken in this recent push forward.
3. The 20 day EMA has been crossed.
4. MACD had a beautiful cross a few days earlier and is now on it’s way up.  This signal is confirmed by 3 points i outlined above.

The RSI is not attractive to me.  I don’t like the slope it’s had since pivoting upwards.

I think the buying opportunity is right now.  I would buy @ the current price of $62.45, put a tight stop loss on it and use the $65.00 mark as a potential selling point.  If the price rockets through $65 then the position will need to be reevaluated.

While talking to the support guy i realized he was knowledgable in everything from technical analysis, to web technology and it made me wonder what Schwab’s chart might look like.

The image above is what I’m seeing and it looks like now might be a good time to wait and see if we can get a nice upward movement to push through the resistance @ $22.89.

All of the key indicators are setup pretty nicely… but i do see one concerning bit.  Check out the volume for the recent up days — it’s weak!  I don’t like that, but it doesn’t necessairly mean that Schwab is out.

Buy on a cross through $22.89.  Looking for resistance around the $25 mark and if it pushs up through then keep on riding the trend line and moving average.

I think there could be some nice movement if the stock busts through $39.50 on good volume. It’s a strong point of resistance, but after that point there are no other resistance levels.

Will be fun to see how this guy pans out.

The RSI has been trending upwards since February and will probably come down a bit to tag the trend line.

Looking @ the chart itself there are a few pretty things here.  Mainly the $10 mark.  Lets start with 2 steps back and look @ the weekly chart.  (I should have annotated a chart for the weekly, but unfortunately i did not.)  The $10 mark is definitely a resistance level on a weekly basis and has been tagged a few times recently.

Take a step in and check out the chart image in this post; this is 10 months and that same cupish shape is still prominent with it’s left most cup lip and “handle” tagging $10 bucks three times.

The “handle” area that started in early May to now is what i am interested in.  I feel that if we can push through the $10 mark on good volume and market conditions, this could be full of win.

A few other quick key items of interest in the chart is the EMA cross which happened late March and the fact that the price has been bouncing on the 20 day EMA pretty consistently.  The 20 day EMA could be looked at as a support line and possibly used as an exit opportunity if breached.

One last thing about this chart is that the most recent day was down and on very low volume.  To paint a more clear picture, the markets in general were down A LOT as the emergence of new that oil jumped $10 bucks in 1 day and unemployment numbers increased from last month.  Point is, Friday’s close down might be more impacted by the overall market forces than one may expect.

Finally, MACD and STO are looking OK.  Just OK because they are a little high for me but they are in a bullish setup.

• Buy on cross through  $10.00
• Semi-tight stop loss, maybe 2-3% as there are pretty big moves in price throughout the days.
• First resistance @ $10.50
• Next resistance level @ $11.23ish

Primarily I believe PRGX has formed a cup with handle pattern and will be testing the upper resistance shortly if not Now.  There is also an upward price channel that has formed starting around mid January and it looks like the current price action is pushing UP through the middle of the channel.

Parabolic SAR is indicating a bullish move as well.

The RSI is interesting because it has been positively diverging since the crash in Novemeber.  This is a strong signal and it’s clear that it picked back up where it left off after the dip resulting from the formation of the cup’s handle.

• Buy on strong push through the $10.10 level.
  
• Look for resistance around the upper boundary of the price channel near $11 bucks
• Stop loss, of course

MACD is under 0 and is moving north.  In addition, it just had a bullish cross.

RSI is also moving north and a couple days ago just passed through the 80 mark which is considered a bullish signal.

STO is a little iffy imo.  The slope of it’s vertical ascent is looking a little too steep, BUT they lines have been layered in a bullish pattern since May 12th.

Resistance levels are setup pretty clearly on this chart.  You can easily spot that the price needs to bust through the $20.82 mark and we could be on our way up.

One concern is that today’s push upwards came on OK volume, but it could have been stronger.

• Buy = Cross through $20.82 with good volume
• R1=21.63  Fill the gap
• R2=22.83
• R3=23.84
• 2-3% Trailing stop loss

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This is the daily chart. Both charts have resistance looming around $11 - $11.50.

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On a strong push through resistance around $11.50 i would buy and ride to the 14 mark if it goes up.

If we broke through $9.50 this would be a cross through two key points:

1. The previous support floor
2. The 20 day EMA

Speaking of the 20 day EMA, check out what happened the past two times WNR moved crossed it.  Both times (denoted with a blue arrow) resulted in a nice pop.

Another attribute i like here is the positive divergence on the MACD.  It has been slowly trending upwards starting in late March.

STO and RSI have both recently spiked with a bullish move upwards as well.

As usual i would enter this trade with a trailing stop loss probably set at around 5-6%.  Enter @ a cross through $9.50 with good volume and look for pain around $10.50.  This is a very speculative chart for me.