All of my indicators positive. Long and short term trend are up. IBD declares market in confirmed uptrend, after the follow-through day. I am accumulating TQQQ. SFG had a high volume green line break-out on Wednesday.
As did NOAH on huge volume. Cup with handle pattern?
4 thoughts on “4th day of new QQQ short term up-trend; IBD: confirmed uptrend; SFG, NOAH–green line break-outs”
Some interesting things IBD said about NOAH:
Noah Holdings (NOAH) blasted 2.27, or 13%, to 19.79 for its fifth straight gain. The stock blew past an 18.43 buy point from a cup-with-handle base and ramped to its best levels in nearly three years. Volume swelled more than four times above average to more than 2.8 million shares â€” the highest since its debut in November of 2010.
There was no specific news to account for the increased trading activity. Noah even issued a statement saying that it doesn’t comment on unusual stock activity.
Noah’s latest base corrected less than its prior pattern. But it’s still a V-shaped pattern that has some wild action on the left side. These are not ideal traits. Cup formations that are U-shaped and less volatile are generally better.
Shanghai, China-based Noah provides wealth management products and services. It delivered triple-digit earnings growth in three of the past four quarters.
Dr. Wish, I am back on the saddle of INVN again. This is one of JUDY’s choice when it was abt $9 per share. Once you said you’d look at INVN when it got up to $22. This is a remider so you don’t miss the ride! 🙂
I was also looking at it today.
The 1 and 1/2 year high is 22.35. Perhaps that’s why Dr. Wish said $22?
Volume has been light-ish….
Also looking at FB (big cup and handle?)….have I missed it? Not that much above it’s IPO high.
Would love to know what Dr. Wish thinks!
INVN – yikes!