FSM looks like it might be setting up for a short squeeze here. The stock has a 50% short float and low float so any movement up will bring quick pain to the bears. Also stock seems to be basing at 2.60 and broke a short-term downtrend.
FBP: Broke out of ascending triangle and the breakout level at 6.14 level has held as support. Watch for a break of 6.25, potential target to 6.40. JMBA: Trendline support holding, short-term resistance at 2.90 with a longer term triangle at 2.90. Breakout above this level is bullish. DOX: Closed at 36.43 that top...
OIS has climbed with this market but looks like it might be failing around 101.96. This has marked the high the last few days and OIS failed at this level yesterday, forming a weak shooting star candle. OIS also has formed two gaps, one a breakaway which started the upwards movement and now an...
YELP has ripped up about 20% since its gap up on May 1st. Since then it has not moved much since it made its high on 5/3. That being said it has been chopping around in a 4%-7% range which is a decent size range. What YELP has done is consolidated since its move...
All indices reversed off their highs today and closed below resistance. SPY made a tweezer top, the QQQ’s made a shooting star and DIA failed at resistance. These charts are looking slightly bearish at this point, not to mention the Piker Indicator is now bearish and pointing to more downside. SPY: Did something it hasn’t...
NYAD has not participated in this latest rally, failing to make new highs with the market. This is a little concern for the bulls since they would want to see advancers moving this market up. The last time this was noticed was on April 2nd, the market dropped a HUGE 1.5%. Why this isn’t the “OMG...
For the rest of the month we will be offering previews of the daily updates that are available at Piker Signals. Like what you see sign up for a Piker Signals membership. SPY: After breaking above its resistance yesterday, SPY continued to climb higher as there is little resistance ahead for SPY. SPY next resistance...
PRKR ripped yesterday and broke out above key resistance closing at the High of the Day and above its most recent swing high. PRKR formed a ascending triangle over the last few months and was able to breakout out above 4.20, once it it this is started ripping yesterday. With a high short-float...
