Tag Archives: Long
Why Dean Foods Could Rally 17% In The Near Future
See the original article at Benzinga.com HERE!
Dean Foods (DF) has rebounded from a 4 year downtrend beginning in 2007 when the stock was at an all-time high of $37.48. Through 2011 DF has lost ~82% of its value for shareholders hitting a low of $7.13. Since then, DF has reversed some of this damage and begun a new uptrend making higher highs and higher lows until recently when prices stalled out at $19.10.
The weekly chart below shows a large ascending triangle formation with resistance around $19. Prices have managed to regain the 200 SMA, and posted a very bullish golden cross in October 2012. The MACD is showing some bearish divergence, but is still printing above the zero line which is bullish as well. Should prices breakout of the $19 resistance, $22 is the next weekly resistance representing a ~17% upside.
The daily chart shows a similar story with $19 acting as multi-month resistance beginning in late October of 2012. Since then prices have traded in a range between the $19 resistance and $15 support. With the S&P 500 making new highs today, 4/10/13, the chances are that DF will see some momentum and make another run towards the $19 area. Keep Dean Foods on your radar for a breakout to $22 for a chance at a 17% return.
Technical Analysis On Bank of America
Bank of America attempted to break out over its recent trading range between $11-$12.20 but failed. BAC also attempted to breakdown below $11, but found support. On the weekly chart, BAC is struggling to hold a breakout past its 200 SMA sitting at $11.63. The MACD has posted a bearish crossover on the weekly time frame as well.
The daily chart shows the range between $12.20-$11 I mentioned above. With recent MACD divergence chances are the upside momentum is slowing down. The indecision in the overall market has shown up in BAC price action and should dictate the future outcome of BAC. Should $11 breakdown, $10 should act as lower support. If the $12.20 resistance breaks, a new uptrend will be confirmed on the weekly chart with next resistance around $14.
This One Stock Is Forming A High Porbability Long Setup
Getty Realty Corporation Holding Co. broke its 200 SMA on the weekly chart last week running into overhead resistance at $19.50 from July 2012 highs. MACD is showing divergence in late 2011 now turned into convergence as shares make higher lows, an indicator of an uptrend.
Daily chart confirms $19.50 resistance level. Should the stock breakout above this level, the uptrend should continue representing a high probability long setup. The daily MACD had a bullish cross last week and is showing convergence with the recent price appreciation. GTY is definitely one for the watch list for the coming weeks ahead.
Tiffany and Co (TIF) Breaking Out
TIF has seen recent resistance at $66.50 over the past 6 months. Weekly chart is staging a breakout.
A confirmation of the breakout over $66.50 would warrant a long entry.
Breakout Candidates For The Week Ahead
With the S&P 500 printing new highs above the recent $1515 resistance, we expect more upside to follow into next week. Here are some long breakout setups for the week ahead 2/11/13.
Stewart Enterprises Inc. (STEI)
Weekly- Forming an ascending triangle with resistance at $8.40-$8.50
Daily- A confirmed breakout over $8.50 would suggest a long opportunity.
Citizens Republic Bancorp (CRBC)
Weekly- Weekly price forming between $17-$21
Daily- Breakout over $20.80 would suggest a long opportunity.
IntraLinks Holdings (IL)
Weekly-$7.00 level has acted as support and resistance for over a year.
Daily- Ascending triangle formation with $6.80 resistance. Breakout above would suggest a long opportunity.
First Midwest Bancorp (FMBI)
Weekly- Multiple year resistance at $13.50
Daily- Price failed to hold ascending triangle formation, but was bought up rather quickly. Near term resistance at $13. A breakout over $13.50 would suggest a long opportunity.
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Bank of America Stalls at 200SMA
BAC shares stall at its 200 simple moving day average at $11.61 after completing W reversal pattern back in December 2012 momentarily. Another long opportunity arises on a break out over $12.20.
Weekly
Daily- Continuation of uptrend over $12.20. Price in range between $11-$12.20.
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Brazil iShares ETF (EWZ) Looks to Higher Prices After Double Bottom
Brazil iShares EWZ have put in a double bottom formation, touching in October 2011 and May-July 2012. Shares tried to re-test the support area of $49 in November 2012 but failed to do so putting in a higher low. Since November 2012 shares have rallied and stalled at the $57.50 recent resistance area as seen on the weekly chart.
Daily chart shows a channel formation at this area of interest with prices ranging between $56-$57.50. A break either way should suggest the future of EWZ. With price above the 200SMA, MACD in positive territory ,and RSI above the 50 line the bias seems to be leaning towards price appreciation.
Is Deckers (DECK) Out of The Woods Yet?
Deckers Outdoors Corp. has lost 67% since its $120 peak in November 2011. Technical analysis suggests DECK is trying to stage a reversal but may not be out of the bears grasp just yet.
A weekly chart shows the nasty down-trend from late November 2011 through all of 2012. MACD convergence suggest the downward momentum might be letting up, coupled with the breakout from its downtrend, there is a case for a reversal in the near term. Significant overhead resistance lies at $42-$44 range.
Daily view shows resistance at $42.50 with an ascending triangle formation. A break to the upside could give price near term momentum to test the 200 SMA on the weekly at $57. However a breakdown of this pattern could lead to more downside pain. Earnings are on February 19, 2013.
Groupon (GRPN) Staging a Reversal
GRPN has been on a down-trend ever since their IPO back in October 2011 around $20/share. A V-shaped bottom may have formed in November 2012 signaling a reversal opportunity.
Weekly chart shows the nasty decline and loss of 74% since the IPO price of $20. New resistance has formed at $5.50 and a break above this level will confirm a new trend.
Daily view shows price has touched and been rejected at $5.50 several times. This is definitely a stock that should be watched closely for the next few weeks or maybe days.
First Midwest Bancorp Inc. (FMBI) Setting Up For Breakout
First Midwest Bancorp had been chopping around for the past four years hitting a low of $5.86 in July 2009 and a high of $17.79 in April 2010. All of 2011 and 2012 shares of FMBI have been in a range of $8-$13.50 as seen below. $13.50 represents a large overhead resistance, and once broken shares will have room to climb higher.
The daily chart view shows an ascending triangle forming since November 2012, a very bullish chart formation.
