Simple Trading MAA As of 22 May 2015

MAA W As of 22 May 2015 Close

Current Trend (W): UP

Abv/Below Value Zone: Above

Next Scheduled Report Date: 28 July 2015

52 Week High: $83.50

52 Week Low: $65.24

Current Relevant Resistance: $80.00

Current Relevant Support: $71.50

Recent Close: $77.04

Comment: These patterns “normally” resolve in the direction of the major trend.

 

Simple Trading MTX As of 22 May 2015 Close

MTX W As of 22 May 2015 Close

Current Trend (W): UP

Abv/Below Value Zone: Inside

Next Scheduled Report Date: 5 August 2015

52 Week High: $77.95

52 Week Low: $56.37

Current Relevant Resistance: $62.00

Current Relevant Support: $69.70

Recent Close: $67.60

Comment: MTX is a barely above Small Cap (at $2.4 Billion) stock that looks geared for a move higher.  It’s struggling to make a directional decision at the current price level (horizontal line).  Multiple additional support levels are noted by the numbers 1-3.

I suspect price will bounce and take off through the downtrend line which will, incidentally, present a good entry signal.

Have fun.

KIS,

The Trader

 

 

Simple Trading THO – As of 21 May 2015 Close

THO W As of 21 May 2015 Close

Current Trend (W): UP

Abv/Below Value Zone: Above

Next Scheduled Report Date: 1 June 2015

52 Week High: $64.65

52 Week Low: $49.03

Current Relevant Resistance: $64.71

Current Relevant Support: $59.03

Recent Close: $62.61

Comment: Thor Industries, Inc. looks ready to stage a muscled assault on the all time high at $64.71.  Drop down a time frame for high quality long setups.  Said setups can be taken as long as price stays above $59.  If you really like the idea, feel free to reduce trade size and take long entries unless price breaks down through the rising trendline (currently around $56).

KIS,

The Trader

 

 

Simple Trading ULTI – As of 3PM 21 May 2015

ULTI W As of 3PM 21 May 2015

Current Trend (W): UP

Abv/Below Value Zone: Inside

Next Scheduled Report Date: 27 July 2015

52 Week High: $183.25

52 Week Low: $119.89

Current Relevant Resistance: $183.25

Current Relevant Support: $159.00

Recent Close: $170.36

Comment: ULTI looks poised to challenge its all time high at $183.25 in the near term.  Simple traders can drop down a timeframe and take buy setups as long as price stays above $159.00.

 

Simple Trading YHOO – As of 20 May 2015 Close

YHOO W As of 20 May 2015 Close

Current Trend (W): UP

Abv/Below Value Zone: Inside

Next Scheduled Report Date: 13 July 2015

52 Week High: $52.62

52 Week Low: $33.02

Current Relevant Resistance: $46.17

Current Relevant Support: $39.12

Recent Close: $42.79

Comment: Yahoo looked to be left for dead yesterday as it began to break down through the bottom of the Value Area on the Weekly Chart.

What a difference a day makes.

We still have to complete the week (and confirm), but price looks set to climb.

Interestingly, support is from a high that extends all the way back to 2006.

YHOO 7Day As of 20 May 2015 Close

You guys may recall, I’m not a big fan of support and resistance from multiple years back… however, the picture here is fairly clean and precise, so the $42 area could remain significant for some time to come…

KIS,

The Trader