EURUSD in a critical junction
April 3, 2014
S&P still inside trading range
April 8, 2014

Today I choose to analyse 5 stocks. For two of them I have bullish expectations, for another two I have bearish expectations while the last one is neutral with a bearish bias. Lets start with the two bullish scenarios. My favorite stock with a bullish scenario currently is TWITTER. I’ve been bearish $TWTR since 556$ targeting low 40s as the potential bottom for wave C down as shown in the updated chart below.

twtr

Wave C is almost if not already complete. Trend remains down but I believe a reversal will take place from 40-41$ area. Confirmation of trend change will come one price breaks above 47.75$. My longer-term target is new all time highs.

Zillow is my next favorite stock that you will know if you follow us through our account @alexanderyf in twitter that I was bullish from low 80s targeting 110$ but we exited at 96$. The sideways triangle was broken upwards and price is now back testing this break out levels. If support at 80-84$ holds and a break above 96.19$ comes, we should expect 102-104$ to be tested afterwards.

zillow

If $Z falls below the upward sloping blue trend line in the weekly chart then it will have entered the Ichimoku cloud area support and would turn to neutral from bullish. As long as the cloud remains below price, then I’m positive. Breaking above 96.19$ will increase chances of success for my bullish expectations towards 104-110$.

zweekly

APPLE is my favorite stock with most bearish view. My longer-term view for $AAPL has been bearish since 550$ targeting 470-450$. The current rejection at 549$ and the lower high at 543.504 confirm that there is no clear move up and that the rise was corrective. Short-term trend is down as we have made a lower high and lower lows during the last couple of weeks. Inability to break above 550$ was crucial. I expect $AAPL to challenge the lows at 516$ and if broken we should soon expect a test of 500$-490$.

AAPL60m

Of course a break below 500$-490$ lows will confirm we are going towards our longer-term target of 450-470$. Through my free twitter account @alexanderyf I have also posted when price was at 548$ that I bought 470 June Puts at 2.5$, valued now at 3.95.

AAPLdaily

Bank of America has also made a bearish pattern that could bring price towards 16$ again. The short-term technical view of $BAC is not good. Rejection at 17.50$ and a break below the previous low at 16.83$ is putting this stock to my bearish favorites. As long as it trades below 17.50$ I believe bears will have the upper hand. With a Head and shoulders formation completed and the neckline broken on Friday, price could move lower than 16$ which is important support.

bac2h

Long-term support is found at 16$ and I think price will soon re-test that area. The Ichimoku cloud will provide support and it will not be a good sign for the longer-term bullish trend if price moves below 16$. So more downside is expected.

bacd

LinkedIn has been in a downward sloping channel for some time now. Trend is down and price is approaching important long-term support levels at 160$. Critical support is at the 61.8% Fibonacci retracement. The decline in the price of $LNKD has no clear pattern and consists of lots of overlapping price movements. This implies that the decline is corrective and the upward trend will resume once this decline is over. I believe the end of this downward correction is near.

lnkd2

160$ is a price level that supports this idea. The reversal could come from this price area. The price is also moving below the weekly Ichimoku cloud and if this is a fake break down, it should soon reverse upwards. Otherwise, this is a bearish signal that if not reversed, it could push the price of $LNKD towards 140$. Confirmation of trend change to up will come when price breaks above 192$ on a daily closing basis.

lnkdweekly

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As always, thank you for taking the time to read my new post.

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Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.