Crypto currencies have certainly been a hot topic doing the rounds of recent Christmas parties and holiday barbecue gatherings. They have even dominated discussion among the Gen Ys and millennials in my family, even with those who have had no previous interest or experience with trading / investing!
I, too, have watched the chart of Bitcoin over recent weeks and witnessed the huge swings and heard stories of thrilling rides for some traders. However, the following charts of old-faithful style entities have me much more excited about potential trading opportunities than those of Bitcoin and the like. My preference remains to stalk the more heavily traded and liquid entities through their various ebb and flow cycles and then to catch them on the upswing when they return to favour. Examples of these types of trades can be found in an article on my site through this link.
I wrote an article just before New Year about where I’m seeing new upside potential and this article still remains an important reference point as the many stocks posted within are ones I’m currently trading with good results. The Energy and Resources (Metals and Mining) sectors look ripe for some recovery activity but here are a few other charts to throw into the mix as well.
The article I posted made reference to two key sector charts highlighting their upside potential:
XLE: Energy ETF: this was one of the sectors and price has increased 3.6% since my post of just 10 days ago:
XME: Metals and Mining ETF: this was the other sector and price has increased 5% since my post of just 10 days ago:
The following few charts are related to these sectors and are well worth watching as well; IMHO that is!
XOP: Oil and Mining ETF: this sector is closely related to the above two and the chart below shows the recent bullish breakout and uptick with bullish momentum:
USO: US Oil ETF: this ETF has just broken out from a two year period of sideways consolidation and has a lot of scope for recovery activity as the two weekly charts below reveal. Note how the weekly 61.8% fib is up near the $80 level:
X: US Steel: this Steel stock has just made a small breakout out from a lengthy eight year period of sideways consolidation and has a lot of scope for recovery activity as well as the two weekly charts below reveal. Note how the weekly 61.8% fib is up near the $120 level:
AKS: AK Steel: this is one stock I’m currently trading in this Steel space and waiting for any new breakout:
Gold: these Gold ETFs are worth watching as part of the Metals space as well, especially if Gold can close and hold above $1,400:
Gold monthly: watch for any close and hold above $1,400 to underpin a push higher:
GDX: Gold Miners ETF weekly: Room for recovery here with any bullish breakout and note how the 61.8% fib is up near previous S/R level of $50:
GDXJ: Junior Gold Miners ETF weekly: Room for recovery here with any bullish breakout and note how the 61.8% fib is up near previous S/R level of $120:
GLD: Gold ETF weekly: Room for recovery here with any bullish breakout and note how the 61.8% fib is up near previous S/R level of $155:
Semi Conductors: this might be just a subset of the Technology sector but both continue to offer appealing chart patterns:
NASDAQ monthly: This ascending triangle breakout is still in progress:
NDX: NASDAQ-100 monthly: This ascending triangle breakout is still in progress:
SMH: Semi Conductors ETF: My data only goes back to May 2001 but price is currently back at the high set from that time and this is giving the chart a bullish Cup appearance. The 105 level seems the one to watch for any new make or break:
AMD: this is one stock within this Semi Conductor space that I’m trading as there is a lot of scope for recovery here too:
AMD weekly:
AMD monthly:
XRT: Retail: totally unrelated but this ETF is looking like its setting up in a Bull Flag. One to watch for sure!
M: Macy’s weekly: this is one stock I’m currently trading in this Retail space.
