Each day we write a few articles covering stocks making key technical developments.
Actavis ($ACT) is hitting a new 52 week high today. Over the past 52 weeks ACT has traded from a low of $81.73 to a high of $160.61. ACT was last at $162.61 on a volume of 849,147 here half way through the trading day.. Average daily volume has been at 1,606,287 shares.
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Actavis PLC specialty pharmaceutical company engaged in developing, manufacturing and distributing generic, brand and biosimilar products.
Union Pacific Corp. ($UNP) shares were last at $155.80 on a volume of 721,468 shares. They are trading back at the 50 day moving average, currently sitting at $155.20. Shares are forming a descending broadening wedge, a potential bullish reversal pattern.
The 50 day has been serving as short term resistance. Technical traders will look for a breakout from the the current wedge to indicate a reversal of the current downtrend of lower highs and lower lows.
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Union Pacific Corp., is a transporting companies and its main operating company is Union Pacific Railroad Company. It links 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain.
Tesla Motors Inc. ($TSLA) averages are at $172.41 (21 day SMA), $173.60 (50 day SMA), $102.80 (200 day SMA). Over the past 52 weeks TSLA has traded from a low of $29.85 to a high of $194.50. TSLA was last at $149.75 on a volume of 23,496,100. Average daily volume has been at 10,410,381.
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Last night Tesla announced earnings results that were actually above estimates. But they were below expectations and the stock is down nearly 15%. The uptrend was actually broken last month after advancing more than 400% in 2013. Now the stock has been struggling. Technical traders should be looking at two levels for shorting opportunities.
First, if TSLA rallies back to above $160, the risk of further advances is low. Second, a break below the current support level of $146.36 is likely indicative of more selling pressure to come.
Tesla Motors,Inc., designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.
Teck Resources Ltd.’s ($TCK) 50 day moving average is crossing above it’s 200 day moving average. Technical traders term this a ‘golden cross’, a bullish signal. The volume is just above average with 1.6 million shares traded so far today, the average being 2.4 million shares.
Shares have been range bound since August, a breakout above the current resistance ($29.30) would add to the bullish backdrop.
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Teck Resources Ltd. Teck Resources Ltd is a resource company. It mainly conducts exploration, development, and production of natural resources. Its main products are steelmaking coal, copper, zinc and lead.
The Cheesecake Factory ($CAKE) is continuing to move higher today, last at $48.84 on a volume of 503,916 shares. Average daily volume has been at 711,667 shares.
Restaurants have been leading the market today. Cheesecake Factory broke above the 50 and 20 day moving averages after earnings and has continued trading higher. Shares are resolving an ascending triangle pattern that defined resistance this summer.
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Cheesecake Factory Inc. operates 162 upscale, full-service casual dining restaurants under The Cheesecake Factory, Grand Lux Cafe and RockSugar Pan Asian Kitchen brands.
Arch Coal Inc. ($ACI) is crossing above the 50 day moving average. The 50 day moving average is viewed as a medium to short term support / resistance. Arch Coal was last at $4.65 on a volume of 12,977,100 trading above the average 10.5 million shares with about an hour left in the trading day.
Shares have been coiling since July and are moving up today with the rest of the coal sector. Shares are sitting below the 200 day moving average, last at $4.81.
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Arch Coal Inc. Arch Coal, Inc. is a coal producer in the United States, which sells coal to power plants, steel mills and industrial facilities.
Yelp ($YELP) averages are at $68.72 (21 day SMA), $64.38 (50 day SMA), $38.73 (200 day SMA). Over the past 52 weeks YELP has traded from a low of $16.32 to a high of $75.37. YELP was last at $67.94 on a volume of 6,229,720. Average daily volume has been at 3,584,152.
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After reporting earnings on Tuesday, YELP gapped down and tagged the 50-day moving average. The selling stopped at that level and YELP is now back above that key moving average and trading on high volume. With current support at $63, YELP is at the low end of the range. The current trading range is between $63 and $75. Technically oriented traders may wish to buy as close as possible to the 50-day moving average and then consider selling some of that position when YELP moves back to test $75.
Yelp! Inc., connects people with local businesses. Its platform features more than 22 million reviews of almost every type of local business, from restaurants, boutiques and salons to dentists, mechanics, plumbers and more.
TripAdvisor Inc. ($TRIP) averages are at $75.55 (21 day SMA), $74.56 (50 day SMA), $61.20 (200 day SMA). Over the past 52 weeks TRIP has traded from a low of $28.63 to a high of $83.00. TRIP was last at $84.05 on a volume of 2,569,790. Average daily volume has been at 2,090,408.
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After reporting earnings last week and guiding lower on future revenues, a couple of analysts disagreed and raised their guidance. The stock fell back to test $70 and has been on a tear ever since. Today the stock is hitting all time highs and showing strong upside momentum.
TRIP has been trading in a fairly narrow range since August, and breakouts of this sort typically run for a while as consolidation leads to a resumption of the uptrend. The 50-day moving average should provide a good source of support for this bullish chart.
TripAdvisor, Inc. is an online travel company, empowering users to plan and have the perfect trip.
Yelp ($YELP) averages are at $68.79 (21 day SMA), $63.64 (50 day SMA), $38.26 (200 day SMA). Over the past 52 weeks YELP has traded from a low of $16.32 to a high of $75.37. YELP was last at $67.57 on a volume of 3,053,270. Average daily volume has been at 3,320,577.
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YELP is currently testing the 50-day moving average. The company announces earnings after the bell tonight and is likely to make a big move. The question is…which way! Rather than try to guess the direction, technical traders should be looking at levels. If the stock gaps down, it’s likely to drop below the 50-day moving average. In that case, the current trading range ($66 – $70) would likely be resistance on any bounce. $75.37 is an all-time high for YELP. A move above that level could be the start of even higher prices.
Yelp! Inc., connects people with local businesses. Its platform features more than 22 million reviews of almost every type of local business, from restaurants, boutiques and salons to dentists, mechanics, plumbers and more.
Pfizer Inc. ($PFE) is hitting a new 52 week high today. Over the past 52 weeks PFE has traded from a low of $23.55 to a high of $31.15. PFE was last at $31.18 on a volume of 19,779,100. Average daily volume has been at 25,601,767.
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PFE broke out of a volatility squeeze at $29 in early October and had been consolidating in a tight flag pattern near $31 for the past few days. The breakout today puts the stock at a 52-week high. Current support is back in the middle of the flag — about $30.50. Technical traders should watch that level because a breakdown could signal lower prices.
Pfizer Inc is a research-based biopharmaceutical company. The Company has five operating segments-Primary Care; Specialty Care and Oncology; Established Products and Emerging Markets; Animal Health; and Consumer Healthcare.
Walt Disney ($DIS) is hitting a new 52 week high today. Over the past 52 weeks DIS has traded from a low of $46.53 to a high of $69.20. DIS was last at $69.05 on a volume of 2,785,290 here halfway through the trading day. Average daily volume has been at 8,115,966 shares.
Shares broke above prior resistance of $68 this week and have continued higher, hitting a new 52 week high today. Disney will be reporting after the bell on November 7th.
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Walt Disney is above the 50 day moving average and above the 200 day moving average.
Walt Disney Company is a diversified worldwide entertainment company with operations in five business segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive.
Standard Pacific Corp. ($SPF) is crossing above the 200 day moving average today. Shares have powered higher the pst three sessions after consolidating at the 50 day moving average.
Shares were last at $8.32 on strong volume, 3,698,450 shares here at the noon hour . Earnings are on October 31st. Shares have been coiling since September and appear to be resolving hat coil to the upside today.
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Standard Pacific Corp. Standard Pacific Corp is engaged in the business of constructing single-family attached and detached homes with operations in the metropolitan markets in California, Florida, Arizona, Texas, the Carolinas, Colorado and Nevada.
FirstEnergy Corp. ($FE) is continuing the move to the upside. FirstEnergy Corp. is up 0.78% at $38.70 on a volume of 1,754,420 shares, slightly higher than average volume into the noon hour.
FirstEnergy shares are trading along the upper edge of the price envelope and testing the top of their consolidation range today. Shares are traded in a narrow range since July, printing lower highs and higher lows. Shares are currently below the 200 day moving average which is sitting at $39.14.
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FirstEnergy Corp. is above the 50 day moving average.
FirstEnergy Corp. FirstEnergy Corp. is a diversified energy company. It holds directly or indirectly, all of the outstanding common stock of its eight electric utility operating subsidiaries: OE, CEI, TE, Penn, ATSI, JCP&L, Met-Ed and Penelec.
Diamond Offshore Drilling Inc. ($DO) was last at $64.63 on a volume of 1,087,050 shares. Shares are testing the 50 day simple moving average which is currently at $64.16.
Share are perking up after retesting the April low around $62. Shares are trading along the upper edge of the price envelope on average volume today.
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Diamond Offshore Drilling, Inc. is a global offshore oil and gas drilling contractor. Its fleet offers a range of services worldwide in various markets, including the deep water, harsh environment, conventional semisubmersible and jack-up markets.
Teck Resources Ltd. ($TCK) is testing the 200 day moving average today. Shares were last at $27.69 with the 200 day moving average sitting at $27.56. Shares are trading above the 50 day moving average and at the 200 day moving average. Volume is light today.
Should shares break through the 200 day, the next key resistance is around $29, which served as support in March and has proven to be resistance since April.
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Teck Resources Ltd. Teck Resources Ltd is a resource company. It mainly conducts exploration, development, and production of natural resources. Its main products are steelmaking coal, copper, zinc and lead.
