Bigger Picture

Having difficulty getting Livestox to connect today, and technical support has been working to resolve it unsuccessfully for nearly 2 hours. We”ll make it happen Friday. For now, note the update on VPOR. And in case you haven”t seen them on the Activity Feed, following are recent Q&As:

guanito — Good morning! ENRT – target for breakout please – .09? Tks.
Rod David — ENRT — There”s no accumulation, so a break higher would be to retrace a prior leg, and that would have room either to .118 or to .140
Posted Yesterday — “Edited” —
Scotty B — Rod: FSLR Is it safe to say it is moving higher based on today”s volume move above $50.00? Disclosure, I have a small long position, considering adding more.
Scotty B — Rod: MINE, seems to have violated Fib retrace from .008 to .01 of .0087. Do still see support at .008? I am considering an entry.
Rod-David — FSLR — Volume is improving into today”s fresh high, but it”s not yet safe to consider that as resuming the rally. Closing above 51 would be very helpful.
tamaramessmann — NTRR-I am long. What are the relevant levels please?
DSpenc — Rod, can you please provide parameters for ANGI, thanks
Josey — Rod – Would VRNS be a swing trade @ the 28 – 29.00 level or is this to far gone if it get there?
Rod-David — NTRR — Potential to .13, and also to the .20 area, so long as .075 holds as support
Miss Kitty — VPOR update please in regard to the potential set up being triggered as you mentioned in the last Friday Livestox. Gracias.
DSpenc — Rod – can you see support for QTMM? Price Decline on no earnings
Rod-David — MINE — Just noise down to .008, but any lower starts threatening .0068 whose break would launch a new downleg.
Rod-David — ANGI — I like the potential that a bottom is forming. But this is somewhat abrupt today to be a durable trend reversal, especially if the close is under 6.90. And back under 6.20 would target a retest of 5.
Rod-David — VRNS — Closing above 33.05 would signal a new upleg underway. Meanwhile, this being the first day of its reaction down, I”d like to see the second day.
casjf — CARA – looks like it”s violating the ascending triangle pattern by more than just noise today. Sell time?
Miss Kitty — NRTI update please in regard to the potential set up being triggered as you mentioned in the last Friday Livestox. Gracias.
Rod-David — VPOR — The open popped up on strong volume. That”s the parameter for launching a rally leg, so closing negative would be bearish.
Rod-David — QTMM — Other than the obligatory support of a prior low, there is no actual distributive pattern whose selling pressure would be satisfied to create new support. Pretty random price action.
Rod-David — CARA — Testing 10.65 support, which needs to snap back up aggressively to prove its test is only corrective.l Closing under 10.45 would break the Ascending Triangle pattern
Rod-David — NRTI — Needs to probe above .024-.025 on expanding volume to trigger a breakout
fennecby — Morning Rod. Would love your opinion on ROSG – is this a good place for starting a long position (my assumption is that it needs to close over 4.19 though)?
And having stuck with CLF for absolutely no good reason – what would currently be a good exit strategy?
tamaramessmann — GRCU- this stock consolidated higher above a previous consolidation now it is breaking lower. How does this pattern usuallyresolve. What is the next target for this stock if there is one.
tamaramessmann — STEV-breaking higher on expanding volume but still in the range. Is there a target you can determine yet?
Rod-David — ROSG — I couldn”t get bullish on this at this stage without closing above 4.85 if not also 5.15.
Rod-David — CLF — Back above 7.35 should trend aggressively back up toward recent highs around 9. I would want to look at that leg to assess it for further potential. But if 7.35”s break did not react aggressively, then the ongoing downtrend would be much likelier to resume.
Rod-David — GRCU — This is not so much a pattern, but more so a lot of random choppiness between .005-.010
Rod-David — STEV — Nice volume expansion recently, offering as good a chance as any previous attempt to break through .085 and .102 resistance.
fennecby — thanks X2. Would try not to screw it up this time around (-:
Angceleste09 — Rod, GWPH, any new parameters worth noting?
tamaramessmann — STEV what is target if it breaks through .102 resistence?
Rod-David — STEV — .102 is the target of a break higher. The approach on it would allow a new target to be calculated.
Rod-David — GWPH — Closing above the 82.15 area on expanding volume would be bullish, but that”s not a new parameter. If triggered, then a second consecutive higher close would be needed to confirm.
tamaramessmann — FNV I lost my connection when you talked about FNV. I heard the end of the discussion on gold so from that it seems like FNV”s target is still 49.60 Is that right?
tamaramessmann — WTW-I want to add to my long position when appropriate. What are the relevant levels?
Rod-David — WTW — I can”t really address the “when appropriate” qualification. Already being long or not, and already having bought lower or added like at the inverted head & shoulders pattern I pointed out previously, whether this would be for long-term exposure or just for a trade, etc. If just now buying, I would say that 19.75 is fulfilling a lot of buying pressure and the next higher resistance is nearby at 20.40. Another upleg would need to exceed those through a close.
Rod-David — We”re going to have a Livestox tomorrow. I”ll post tomorrow morning.
guanito — Good morning Rod! What do you think of FOFU please? I have an order in to buy. Looks like bottom fishing a rising channel? If it”s top fishing I”ll know it quickly. Thanks.
Rod-David — FOFU — .049 is the lowest pullback limit for this consolidation. Closing any lower would suggest a much deeper pullback underway. Regardless, a fresh high close next week is all but required to prevent the current consolidation from becoming a top.
Cannabiz — Good morning. MCIG .132 and TAUG .009, are the lowest acceptable pullbacks, but if supports are broken what are the next levels please?
TIA.
Cannabiz — Are the charts so weak that you foresee a further pullback or do you see a double bottom in MCIG under formation here? TIA
Rod-David — MCIG, TAUG — Fresh lows in either at this stage, after what would be failed surges from the low, would suggest generally cutting their prices in half.
casjf — VRNS – bounce potential? and if so, to what level?
Rod-David — VRNS — Bounce potential to 33.05 or 34.`0. But this is still the first day following the plunge from a new high, so there”s no requirement for any specific resolution. Today”s close is needed before the pattern can be predictive.
Rod-David — VPOR — One of the two bullish patterns I highlighted last week on Livestox and this weekend in The Universe. Up sharply in the past two days from .0018. Needs to close above .003 to maintain the rally”s momentum. Don”t lose sight of how FITX resolved after fulfilling its similar pattern”s objectives (it was cut in half within 1-2 days)
tamaramessmann — VPOR- IS THE TARGET .0038?
DSpenc — next target ANGI (looking to exit)
Rod-David — VPOR — .0038 is one of the more prominent targets, but the .003 pullback limit should be noted in the same breath
Rod-David — ANGI — The next higher resistance is “higher prior lows” at 10, but there”s no actual target to this pattern
Cannabiz — I am extremely glad to have been spared a lot of pain by the calls made here, though I also recognize I”m in this to make money too. I understand this is not relevant to this sector, but UWTI”s gap closed this morning and shares were as inexpensive at 2.99 pre market. There were 23 million shares traded in just the first hour of the session, which is the complete opposite of what”s happing in cannabis. I would think an effective strategy to disable ISIS is to cut off their oil supply which they are receiving a large amount of funding from by the powers that be. I know, stories have no relevance here either. Just compelled to share, and would rather everyone make money! I hope you don”t mind.

In case you”re not checking the Activity Feed, following is a compendium of recent posts there that might be of interest more widely…

NRTI — Volume did expand Friday, while price rose. But that”s not yet a breakout, which would be a fresh high close. The volume expansion now, upon approaching a breakout level, can be a helpful early warning.
KING — The next higher objective before another consolidation is 18.55, potentially 20.30, probably the lower of the two since January”s low wasn”t retested before recovering. But the bigger picture remains intact, which was to reverse the trend back up from the temporary pullback from Nov-Dec”s head & shoulders pattern.
AFL — Downtrending resistance broke higher Feb 2-3. Now almost two weeks have been spent carefully approaching the prior high up to the 62 area. Meanwhile, volume has been expanding. So long as 60.90-61.20 holds as support, a very aggressive break higher to 64 and 66 is likely.
VDSI — 32 and 34.75 are the likely objective of this fresh high.
Josey — Even if it gets positive again @ today”s close, over 28.20 – 29.70 today?
VDSI — Recovering today”s reversal today would make much higher highs likely
casjf — AXP – Support & resistance?
casjf — UPS – Support & resistance?
AXP — 77.15 – 80.60… A test of 77.15 before trying to rally would make a rally more credible for extending further.
UPS — 97.20 – 103.65
tamaramessmann — KING what is the pullback limit to maintain that 18.55 is in play?
tamaramessmann — ITB- I am long. what is the next target or targets before there is a significant pullback. Thanks Rod.
casjf — IAU – are we reaching a support level for a buy-in here?
tamaramessmann — BP, VLO, TOT- I would like to establish long positions. What are the current relevant levels?
KING — 15.70 pullback limit
ITB — Next higher target is 28, so long as 27.23 holds as support.
IAU — 11.50-11.55 needs to hold if tested, and back above 12 would signal the pullback had ended.
TOT — The stock hasn”t moved in a week, so the parameters identified then won”t have changed.
VLO — Far from any sort of optimal long-entry, having rallied relentlessly 33% during the past 4 weeks. But the recovery isn”t reversed so long as 52.15-53.35 holds as support.

Add any other requests to this thread.

Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]

Links to || Last week”s Universe || Prior week”s Universe || Previous week”s Universe ||

Did you catch Wednesday”s Livestox discussion of FITX? My target was 50% higher, which was met the following day. It hit a double one day later. The same pattern can be a continuation pattern if volume doesn”t confirm its breakout. Friday”s Livestox highlighted two similar patterns forming in NRTI and VPOR. A tentative comparison can be made in GRCU. Regardless, be sure that volume expands to confirm a breakout.

The prior week”s Livestox discussed MDBX. It was only testing support, and not yet bouncing off of it like FITX. Its likelihood for a double and potential for a triple were both nearly fulfilled. 

More importantly, MDBX fulfilled another expectation when it fell as quickly back down to its low. At some point, price gains can begin attracting more price gains — but not until their overhead supply of sellers is absorbed. And we don”t yet have reason to stop suspecting that phase has yet arrived.

In order, today”s Livestox covered the following issues:

Crude Oil

HAL

RIG

RITX

NRTI

VPOR

FEYE

ERBB

TAUG

TRTC

ATTBF

HEMP

VDSI

AHS

UWTI

Happy Valentine”s Day, and President”s Day!

Did you see my updates on FITX? The bullish potential was described during Wednesday”s Livestox. Earlier I identified a couple of similar setups forming. We”ll review those, and more, in today”s Livestox which begins at 12:30 ET.

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