Technology continues to be a bright spot so far in 2018 with the XLK up 8.2% and we know the Nasdaq is dominating the major benchmarks thus far as well. We have been advocating buys in the strong semiconductor and software groups, but the internet sector is not to be ignored by any means. Of course we have TWTR up 45% YTD, AKAM had a strong pop Thursday, GDDY has a beautiful chart and below we look at Zillow at a couple different times this year. The chart directly below is how it appeared in our Thursday 1/25 Game Plan and then the second chart takes a present look.
Stocks that can be bought after recent bullish ascending triangle breakouts are ZG. ZG is an internet play higher by 8% YTD and 16% over the last one year period. Earnings have been mixed with gains of 2.3 and 10.3% on 11/8 and 5/5 and losses of 9.1 and 7.6% on 8/9 and 2/8 (REPORTS 2/6 after the close). The stock is higher 4 of the last 6 weeks and by 3.4% this week so far. It recorded a nice break above bullish ascending triangle trigger of 43 on 1/11, and respect the gap fill on 1/19 from the 1/10 session which also bounced off 200 day SMA. Enter ZG at 43.25 and triangle has measured move to 48. On weekly chart one can add to above 50.91 cup base trigger than began week ending 6/30/17 (notice double top their with week ending 8/1/14 having an intraweek high of 51.42).
Trigger ZG 43.50. Stop 41.40.
Below is a current view on the name and one can see the nice symmetry with the length of the recent cup base breakouts that were long in duration. The breakout which occurred last May was retested and held firm at its weekly rising 50 day SMA. Keep in mind the bigger the base the higher the space and this is a good example. The stock is now on an 8 session winning streak and Thursdays candle resembled a shooting star so a pullback is warranted after the recent 20% run and enter in the 52s.
If you like what you read why not visit www.chartsmarter.com.
Technology continues to be a bright spot so far in 2018 with the XLK up 8.2% and we know the Nasdaq is dominating the major benchmarks thus far as well. We have been advocating buys in the strong semiconductor and software groups, but the internet sector is not to be ignored by any means. Of course we have TWTR up 45% YTD, AKAM had a strong pop Thursday, GDDY has a beautiful chart and below we look at Zillow at a couple different times this year. The chart directly below is how it appeared in our Thursday 1/25 Game Plan and then the second chart takes a present look.
Stocks that can be bought after recent bullish ascending triangle breakouts are ZG. ZG is an internet play higher by 8% YTD and 16% over the last one year period. Earnings have been mixed with gains of 2.3 and 10.3% on 11/8 and 5/5 and losses of 9.1 and 7.6% on 8/9 and 2/8 (REPORTS 2/6 after the close). The stock is higher 4 of the last 6 weeks and by 3.4% this week so far. It recorded a nice break above bullish ascending triangle trigger of 43 on 1/11, and respect the gap fill on 1/19 from the 1/10 session which also bounced off 200 day SMA. Enter ZG at 43.25 and triangle has measured move to 48. On weekly chart one can add to above 50.91 cup base trigger than began week ending 6/30/17 (notice double top their with week ending 8/1/14 having an intraweek high of 51.42).
Trigger ZG 43.50. Stop 41.40.
Below is a current view on the name and one can see the nice symmetry with the length of the recent cup base breakouts that were long in duration. The breakout which occurred last May was retested and held firm at its weekly rising 50 day SMA. Keep in mind the bigger the base the higher the space and this is a good example. The stock is now on an 8 session winning streak and Thursdays candle resembled a shooting star so a pullback is warranted after the recent 20% run and enter in the 52s.
If you like what you read why not visit www.chartsmarter.com.