Promising setups in selected stocks

In a previous post I mentioned the cancellation of the bearish scenario in JPM and the bullish targets and levels to watch.

$JPM

Price continues to make higher highs and higher lows respecting the red upward sloping trend line. Price is also above the Ichimoku cloud and a break above 118$ would be a very bullish signal.

Goldman Sachs

Since the end of June we have pointed out the upward potential of $GS

Now price has broken through the resistance area and we are more confident of a move close to our target of 236$

Financials are breaking above the weekly cloud resistance and above the downward sloping trend line….

$XLF

Facebook has broken out and above the weekly cloud resistance, back tested it and bounced back upwards making new higher highs. This is a bullish setup.

As long as price holds above the cloud we remain optimistic looking for a move towards 240$

If you follow me on twitter you will also have seen my change in view in $TLT from bullish to bearish.


TLT has most probably started a reversal on Friday and has a confirmed top. I expect a  pull back towards cloud support around the 122$ area.

 

That is all from me….have a great week everyone!