Charts of Interest
Let’s take a look at some charts I am watching going into the next week. Deckers Outdoor (DECK): One of our more favorite trades as it had clear levels to trade against. I noted on Stock Twits (WSConsensus) that DECK could now be approaching initial resistance around $35 and would expect a pause to refresh and that quick traders could take some off to look to re-enter. Now the 20 Day SMA (green line) should be support and if you did lose some you could look to add. This one is a potential Long Term trade but we always take…
Charts of Interest
Let’s recap a few charts we are watching. First is the McClellan. We highlighted that the McClellan reached Stage 1( below -80) levels on a closing basis and also posted an intraday chart showing we almost reached Stage 2 (-100). Friday’s rally has already taken us out of Oversold levels but often with strong moves like this we see divergence on the indicator before a more substantial bottom is set. TSLA – Could be taking out a long term down trend line. TSLA is often noted as a electric car manufacturer but TSLA has also started providing their components to…