Trade Ideas: DTV

This was an interesting pick to come out of my Trade Ideas Channel scan. Usually, the scan selects for tight bases, but today's stock is showing a small consolidation flag, following a series of strong up days. There is still overhead resistance at $16.24 to consider (not to mention $17 and $18 too). So short term traders might have more to gain from this, than intermediate, or long term holders.

DirecTV Group, Inc. provides digital television entertainment in the United States and Latin America. It operates through three segments: DIRECTV U.S., DIRECTV Latin America, and Network Systems. The DIRECTV U.S. segment provides direct-to-home digital television services and multichannel video programming distribution via satellite to residential and commercial customers in the United States. It also offers professional and collegiate sports programming.



Popular posts from this blog

"Inverse Hammer" on Russell 2000 Breakout

Image
It was a mixed day for indices with the first indication of a top for the current advance with reversal candlesticks coming into play off opening gaps in markets. The Russell 2000 is looking the most vulnerable as it finally manages to break past the June swing high. With the 'inverse hammer' we have the risk of a possible gap down Tuesday, which would result in an 'evening star' and a likely "bull trap" - feeding into the likelihood of a larger sell-off. 
Read more

'Bear Traps' for the Nasdaq and S&P as Russell 2000 holds above support

Image
Buying in the Nasdaq and S&P delivered important 'bear traps' which in part, probably fueled today's gap highers in these indices. There is still alot of work for bulls to do, not least drive breaks of downward channels - not to mention, clear the first of the key moving averages in the 20-day. But it does give indices some respite from the grinding selling of the last couple of months.  The buying in the Nasdaq didn't register as accumulation, but there is a slow improvement in the technical picture with an upcoming 'buy' in the MACD.
Read more

Bullish Engulfing Patterns Across Russell 2000, S&P and Nasdaq

Image
Will today be the day markets get their latest swing low?  The Russell 2000 continues to be the index to offer most for bulls as support of $162.50 held firm.  The large white candlestick was supported by strong buying volume, but if anything, today's candlestick was *too* big and is vulnerable to getting pegged back tomorrow.  Technicals in the Russell 2000 weren't vastly improved by today's buying.  The MACD still has its 'buy' trigger but didn't advance much. On-Balance-Volume has been trending down throughout September and October and today's buying, while welcome, didn't make a huge dent in that trend.  The one real positive for this index is the continued improvement in relative performance to the Nasdaq and S&P.
Read more

Archive

Show more