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Last Update: 7.15.13

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7.11.13 Thursday

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Entered Long Positions @ $110.85

Pretty simple strategy here as we found uptrend support and double bottomed right at that support. But I was waiting until it break above the double top neckline resistance of $110.42ish and today we closed above that and just sitting on that new support (old resistance) of $110.42.  Decided to go long (Calls) and just looking for a follow through tomorrow.

Target price: $125

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7.12.13 Friday

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Looking Strong so Far

We have 10EMA crossing 50EA here. Historically, this is very good sign for the bulls and I think we can expect great swing trading opportunity on this name as we also have well established uptrend.  Great looking bullish setup here so far.

Take a look at this weekly chart.  Orderly formation of “old resistance and new support” theory playing out here with Marubozu candle this week.  We actually found strong support this week because not only we found horizontal support but also uptrend support as well.  That’s double the strength.

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7.15.13 Monday

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Unfortunate Gap Down, Stopped Out @ $108.26

Would have to get above $112ish before seeing some bullish strength on this name.  It might wants to retest that $105 support. Out for now but keep an eye on it for next opportunity.