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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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Late Night Strategy for Friday

chessNwine Fri Sep 19, 2014 12:00am EST 4 Comments

Shanghai: night view of elevated highways

We looked at CMGE last night as a long idea in front of the BABA IPO.

Even though the stock was up over 7% on Thursday and may smack of chasing, I believe it is worth another look into Friday for potential pin action.

On the 30-minute chart, below, note the highlighted bull flag formed yesterday afternoon (light blue lines)

If all goes well with BABA, this one may be ripe to break higher yet for another momentum long, if only for a quick trade.

Drop me your top tickers overnight.

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CMGE

 

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4 comments

  1. marketmaker101
    marketmaker101
    September 19, 2014 at 12:24 am

    How about PCLN?
    Thnx!

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  2. Operator
    Operator
    September 19, 2014 at 12:53 am

    LULU

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  3. bensteinsmoney
    bensteinsmoney
    September 19, 2014 at 4:03 am

    TRQ, NOR, AXAS, CLF

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  4. gharo34
    gharo34
    September 19, 2014 at 4:32 am

    Got to stick with financials & brokers – large/mega caps were also getting strong.
    Long ideas – MMM, ABT, ADM, BRK/B, COF, SCHW, C, CYN, CMA, DFS, DD, EEP, GE, GSAT, JPM, KEY, MA, PRU, PTCT, STI, WFC

    I’m guessing shorting credit cards is no longer in the playbook?…

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