The following charts are stocks of firms that operate retirement communities, assisted living facilities, nursing homes, and are providers of home health care services. The sector is acting extremely well even as the broad market consolidates. This type of relative strength merits your attention going forward.
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On their respective monthly charts, and general longer-term timeframes, the two major publicly-traded cruise stocks are almost laughably bearish with massive head and shoulders tops in play over a span of many years. However, head and shoulders tops need confirmation, in the form of a neckline breach, to even have a chance at proving true. In addition, when you are talking about head and shoulders tops on monthly charts it is worth considering that plenty of long, sideways consolidations often take on the shape and form of a head and shoulder top, only to leave bears left for dead by big-game hunters positioned for the next bull run as price breaks up and out of the multi-year grind.
Thus, I am going to focus on the daily timeframes for our two cruise stocks, CCL and RCL. After all, the shorter-term timeframes in aggregate eventually shape the longer-term ones. Here, you can see the uptick in buy volume over the past two trading sessions to accompany attempted breakouts. CCL is more technically sound on the daily than RCL, with moving averages starting to align and price breaking out of a clear defined pattern.
The two are likely to move in tandem, though, as money now seems to want into this industry.
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These retail stock are cutting it high and tight in terms of benignly consolidating their recent gains. Be on the lookout for strength out of these firm bull flag, with mild volume indicative of a lack of selling pressure, for secondary breakouts.
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One of my long portfolio holdings inside 12631, AOL, is up over 4% pre-market this morning. The first issue is seeing whether the move sticks and can build on itself to the upside. Beyond that, I wrote a post for 12631 members last week discussing how I view pullbacks within uptrends. As has been a recurring theme of my posts and videos for weeks now, the emphasis should be on the “how” of the consolidation. Here, AOL saw a fairly orderly giveback down to its rising 20 day moving average, with selling volume abating.
We know AOL remains in a strong uptrend. However, a touch of the rising 20 day moving average is not an automatic buy signal–It is simply an important reference area to observe if, in fact, buyers step up. As you can see below, not factoring in this morning’s gap higher, the buyers eventually came in to support the general area of the 20 day moving average.
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To update this post from earlier in August regarding the bullish setups in the communications and cable service provider space, I continue to be intrigued by an array of names in the sector. 12631 members know from my current portfolio holdings which specific ones I like, but there can be no denying that Comcast looks ripe to bounce off that 20 day moving average after the uptick in buy volume on Friday. As with many stocks and sectors, the pullback over the past week or two has been orderly and expected within the context of an uptrend.
With that in mind, in the mass media space CBS also is indicating a tight base over the past few weeks that gave signs on Friday of attempting a breakout higher.
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The three main toy stocks continue to sport bullish charts headed into the fall.
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