Precious Metals Breaking Down! 3 Amigos to Abort? 4 Horsemen to Ride?

I am not trying to be a wise guy with the first half of the title (it’s a goof on alarmist media), but if you were not bear biased or outright bearish on the gold sector’s daily and weekly technicals, and its macro and sector fundamentals by now all you have left are the alarmist […]
Slope of Hope

Hedgers Net Short the Euro, US Market Rotates; 2 Horsemen Set to Ride?

In line with our bullish forward view on USD, behold the very bearish state of the Commercial Hedger positions in the Euro (courtesy of Sentimentrader). Recent historical data speaks for itself. It appears a decline in the Euro is imminent (which, in market terms means ‘relax, it could be a while yet’ ? ).   […]
Slope of Hope

Big Data Says Ride the Reversal Higher in Teradata

Written By: DragonFly Capital

teradata-big-systems

Teradata, $ TDC, was in a rut. The stock had fallen from a high over $ 45 in May 2015 to a low under $ 22 in February, When the broad market bounced so did Teradata, but it could never move back over the area that was support at 27.60. That was until they reported earnings last week and canned their CEO. The stock jumped 13% that day, back to the resistance area. What is next?

The chart below shows that jump took the price over the 200 day SMA for the first time since the fall started a year ago. And it has consolidated since. Just a 23.6% retracement of the leg lower. Pretty weak bounce so far. But that consolidation is bullish upon closer inspection. The digestion of the move higher on falling volume suggest sellers dropping by the wayside and that buyers may overwhelm them shortly.

tdc

The momentum indicators support a break to the upside as well. The RSI moved into the bullish zone and is holding there while the MACD is rising. The Bollinger Bands® area also opening to the upside. A Measured Move out of the flag would target 32. And with 13% of the float short it has fuel to rise.

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Ride on over to Tractor Supply to stock up

Written By: DragonFly Capital

featured-neighborhood-supply-store

The beans and corn were planted long ago and are rising fast. What is a farmer to do now? Just wait for the harvest? Mostly, but this is a good time to take a look at your equipment and see if you need any repairs. Maybe even time to go get some spare parts. And the good folks at Tractor Supply Co. ($ TSCO) seem ready to greet you. Heck looks like you can even ride your horse there.

But if you do not have a farm, then you still might have interest in Tractor Supply Co. for its stock. It has held up very well over the last 3 months. The chart below shows the flat consolidation over the 50 day SMA and a rising 200 day SMA.

tsco

The far right end shows that the recent activity has built an ascending triangle and price is back testing resistance again. A move over the top at 90.75 would target a run to 97.25. The Bollinger Bands® have squeezed and are now starting to open for a move. The RSI is rising and in the bullish zone. And the MACD just crossed up. Time to saddle up and head to your broker for a few shares.

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