We here at Bullsonwallstreet have a new feature, Ticker Reviews where you can submit any ticker of interest and I will personally review them for you. Recently, we had a whole slew of requests and so I wanted to review the hottest ones. This is a great way to get inside my head on how I dissect the stock from different angles and share some valuable information with my students.
My student Joel asked whether I would go long on NFLX. NFLX is an interesting stock because after the big dump in the technology sector, NFLX had a low volume bounce. It got smoked again after its bear flag. This is a stock that we cannot long just yet. Although the longer term trend is strong, on a short term basis NFLX is very bearish. We don't have any evidence that the previous support level will hold on a short term basis. If I were to long it, I would definitely stay away for it until it develops into a pattern. It needs to essentially begin trending again before taking it long
Andrew sent me a message about C, Citigroup. Bank stocks are slow, with a float at 3 billion shares. But on the long term basis it is really bullish. It had a flat top breakout after testing it multiple times. One way to tell if it can move higher is to ask what's its first pullback and makes a higher low. Once it flags out again, it breaks out indicating that its a really solid chart for a higher move.
Robert asked me about Gold such as NUGT and JNUG. Gold's long term chart is really muddled. When a stock is just in a range moving back and forth, it doesn't give you an edge. The moving averages are criss-crossing, not doing anything. Gold has just been in a nasty range for a long time. Even on the 3X ETF NUGT, you can see the same behavior. At the moment there's no reason to long this, but if it breaks support it can provide a great shorting opportunity down to $21.
Alex asked about ZENO, which is something I would stay away from. There's no volume in it, dying out after its huge run. Once these stocks die, they die for a long time. I would look for something better, but if you're in it now I would just leave it with a stop price.
These are just a few of the many stocks that students have asked me to review. Watch the video to get the full scoop. If you have a ticker request that you would like to have reviewed, submit them over at our Personal Ticker Review. For everybody else, if you’re not sure of the setups and price patterns that we’re talking about you can learn them all here at our Bulls Bootcamp. It's an intensive 60 day course to teach you exactly how I trade and why. To learn more or signup, email me at firstname.lastname@example.org today!