Livestock 12/9/2014

Tuesday morning”s Livestock covered the following issues, summarized in order for your convenience:

GSK — Extending its pullback, which may be a correction of the entire upleg, having room down to 43.75-43.95, at which point recovering 45.20 would trigger the next major upleg.

Crude Oil — Retesting its week-old lows with an opportunity to bottom.

PBR — Other energy stocks seem to be ignoring the continued Crude Oil weakness, which makes PBR a bigger concern.

GBLX — Still not monitoring support, but fresh lows have been avoided for several consecutive sessions.

CBIS — Holding support, but not optimal to delay reacting up.

CALL — Back above 8.55-8.75 would prove the current downleg is just a rogue leg biding time until tax loss selling pressures abate.

CARA — Still a favorite in the sector, closing above 10.20 would trigger the next upleg.

ATTBF — Retesting .135 isn”t optimal, but not yet bearish without a second consecutive lower close, and allows a close back above .175 to be bullish (no longer requiring .202 to be recovered first).

DEWM — Extending its pullback below .0038 to .0032, which could qualify as the pullback”s low if reacted to aggressively Wednesday.

MCIG — Potential new January Effect candidate after testing its .135 support.

TAUG — Confirmed breakout requires an eventual third lower close, disqualifying Tuesday”s bounce from being a recovery.

GWPH — Retracing the origin of its bounce, forming a Key Reversal, which would be bearish if volume is lower than Monday.

ENB — per request

NFLX — returned to its original buy signal.

TSLA — Breaking under a prior low at stage that is indefensible.

BABA — Still channeling down, and any break higher would target one more new high.

GPRO — No unfinished business above and likely to extend its pullback

ERBB — Triple Bottom forming, which is all but required to probe lower, but not necessarily before a failed bounce.