AMAG Pharmaceuticals Inc. (AMAG):
This stock gave us a nice gap up to start the month and has recently filled the gap at the end of last week and finishing the fill today. Below we have a 60min chart which shows us that the stock found new highs and slowly fell over a course of 2 weeks back down to where the gap originated from, 29.95. From here I see the stock rebounding so this looks like a great support area to test and buy from. From this support we want to see the price reach above the most recent highs around 33.00 for a breakout to and a continuation of its uptrend. If this doesn't happen then I'll be looking to short the stock around 31.50 back down to 30.00 and from there 25.00 to fill the previous gap from September 26 mentioned in one of my earlier posts.
This pair has been giving retail traders and investors the trading test of the decade lol. This stock has been hella volatile and looks like its being manipulated by big bank traders and other institutional traders. From our chart below we can observe its path of vicious whiplashes day-in and day-out.
From this view we can see that the stock has broken its support and Friday (10/10) showed us the market rejected it when it tried to return home at 88.00. From here we can assume that this stock will be pushed lower as it's making lower lows and 86.00 looks like the spot to sell from.
The banks stock has taken a similar route as BABA, where the price has fallen out of last weeks range and now has broken its support at 51.00 and now is rejecting that price and using it as resistance. From here I see the price following the lower level trendline where we should see the price reach 49.50.
To keep up we probably need to get our sell order in around 50.50 and if we can't catch it there we'll wait for lower lows and catch it out of the gate around 49.75.
LoL; This might be the easiest stock of them all. Buy at around 22.00.
That's it.
You can listen to the news if you want but remember this; newspaper columnist and tv news reporters are not financial professionals. They get paid to write and talk.
This stock may be lower than usual recently but that has nothing to do with the reality of business. Companies with tangible products that have proven to be money makers do not go out of business and disappear. More likely they get bought by bigger companies which can benefit from the transaction and usually save the struggling company. This pair is showing a classic opportunity where bigger institutions and companies help to degrade the price of a stock and then buy it all up under the radar.
From the chart above we can see the beautiful gap that;'s going to get filled and it's our job to be right there when it does. From this min chart we can observe the test of the price 20 two times and the consolidation which is a sign that big traders are not shorting this stock, little (dumb) money is. Additionally peep the rising RSI trend-line.
Posting lower lows today. Only one thing to do here, Sell Sell Sell. I was in TacoBell yesterday and realized they didn't have one of those new Coke machines that lets you make your own flavor of soda, maybe that's the reason for all the selling (lol). Whatever it is, let's be technical in our approach to selling this stock.
From this 15min chart we can see why I say sell. I would be looking for a short around 68.90 which was support from last-week that was broken today. We need to see if this level will hols as resistance as bearish traders take the price lower. Be cautious, who wants to be caught in the middle of some hedge fund's limit-buy-order all of sudden; so keep your Stop/Loss tight. 
No comments:
Post a Comment