The trends identification strategy used here which is based on combinations of different personalized charting elements such as MACD, RSI, EMA … has confirmed the initial stage of the following three new trends.
Best Buy Co Inc.: despite the 2400 jobs cut announced by the company in the last half hour of the trading session the charts are still indicating the formation of a new uptrend at $21.59
Chesapeake Energy Corp. has also started a new uptrend at $20.04
Wharf Holdings Ltd (4:HK) is also entering an uptrend at $45.30
Ross Stores Inc.: this stock has seen a strong increase this week due to great sales revenue and seems to have now reached its resistance level at just under $68. However, the current charts are pointing toward a more likely moderate downtrend in the near future which may result in an overall sideway movement.
From the previous positions:
-Google Inc.: a Buy to Cover at $585.98 for next Friday has been triggered.
-Sirius XM Radio Inc.: the recent unexplained spike of its stock price has triggered a Buy to Cover at $2.045 for next week and will be completed if it ends above that price.
-CISCO Systems Inc. is still in a downtrend and remains short as it’s trading below the Buy to Cover set at $17.17.
-Oil Crude (Sweet) is still in a downtrend & fully remains short
-JPMorgan Chase & Co. is still in a downtrend and remains short as it’s trading below the Buy to Cover set at $35.73
-Avon Products Inc. is still in a downtrend & fully remains short
-Sprint Nextel Corp. is still in an uptrend & fully remains long
-Royal Bank of Canada
| Buy | Sell | Short | Buy to Cover | 6-Jul | Gain/Loss | |||||
| US | Date | Date | Date | Date | ||||||
| Google Inc | 5/4 | $596.00 | $585.98 | 1.71% | ||||||
| Sirius XM Radio Inc | 5/4 | $2.16 | $2.05 | 5.62% | ||||||
| Cisco Systems, Inc. | 5/4 | $19.12 | $16.77 | 14.01% | ||||||
| Oil Crude (Sweet) | 5/4 | $98.49 | $84.13 | 17.07% | ||||||
| JPMorgan Chase & Co. | 5/11 | $36.96 | $33.90 | 9.03% | ||||||
| Avon Products, Inc. | 5/11 | $20.19 | $16.47 | 22.59% | ||||||
| Sprint Nextel Corp. | 5/25 | $2.62 | $3.29 | 25.57% | ||||||
| Best Buy Co Inc. | 7/6 | $21.59 | $21.59 | 0.00% | ||||||
| Chesapeake Energy Corp. | 7/6 | $20.04 | $20.04 | 0.00% | ||||||
| CANADIAN | ||||||||||
| Royal Bank of Canada | 5/4 | $54.96 | 7/6 | $52.78 | $52.78 | 4.13% | ||||
| Hong Kong | ||||||||||
| Wharf Holdings Ltd (4:HK) | 7/6 | $45.30 | $45.30 | 0.00% | ||||||
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