A few people were asking me about my process, or in other words, how do I find - and select - a particular stock, like TransEnterix ($TRXC), which I posted on social media (Twitter, StockTwits, TradingView, etc.). First, you can see from the U.S. ranking blog post here, that at the time of posting this chart, Health Care was (and still is) an outperforming sector compared to its benchmark, in this case, the S&P500.
Drilling down into the Health Care sector, I am looking for
Here's an interesting setup: Quinstreet ($QNST) broke-out of its resistance area (orange rectangle) on high volume (3x the 50-day average - blue arrow). The price pulled back to its breakout level, confirming that the old resistance becomes the new support, on low volume (less than the 50-day average - red arrow), with momentum straying in a bullish range. Now, the price needs to bounce off this area and start a new uptrend to be a complete textbook breakout. If QNST is able
On October 7, 2017, I've written a post on the QQQ breaking out of an ascending triangle with a RSI in a bullish range. I followed the analysis with two target prices, near each other, derived from a confluence of two Fibonacci's extensions. You can (re-)read the full blog post here.
Last week, on July 25, 2018, the QQQ hit an intra-day high of 182.93 and closed the day at 182.82, both nicely in-between the above mentioned targets of 182.76 and 183.41. Don't you just love t