ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
AT40 Status: 65.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 Status: 70.2% of stocks are trading above their respective 200DMAs VIX Status: 11.7 (volatility index) Short-term Trading Call: neutral Commentary The struggle for the overbought threshold continues. AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages … Read more
(This is an excerpt from an article I originally published on Seeking Alpha on March 22, 2016. Click here to read the entire piece.) Last week, March 17, 2016, Jefferies analyst Andy Barish downgraded Chipotle Mexican Grill (CMG) to a sell from neutral and cut his price target from $390 to $360. {snip} Source: FreeStockCharts.com … Read more
Source: Nightly Business Report Portfolio manager Gregg Abella of Investment Partners Asset Management was placed in the uncomfortable position of having to explain these picks he recommended almost nine months ago. His over-weighting in oil really hurt. Abella is also the analyst who brought Memorial Production Partners (MEMP) to my attention. It was a pick … Read more
Morgan Stanley (MS) initiated coverage on Intercept Pharmaceuticals, Inc. (ICPT) with an underweight rating. The negativity weighed on the stock for a 7.9% loss that sent the stock below critical support at its 200-day moving average (DMA). Source: FreeStockCharts.com Morgan was VERY emphatic about its “out of consensus” call on ICPT. As reported by Investors.com: … Read more
This is a quick post on five charts that caught my eye on Tuesday, May 19th. All charts annotated at and downloaded from FreeStockCharts.com. Hortonworks, Inc. (HDP) has struggled to make a good post-IPO impression. The first earnings report underwhelmed and led to a fresh all-time low. The last earnings report was initially well-received and … Read more