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
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
Here's a daily chart of $NVCR. It has, so to say, done nothing for 7 months (sideways trading). From mid October to yesterday's close, we are looking at an ascending triangle, to be confirmed once the price can breakout of its strong resistance around the 22.50-23.00 level.
If this breakout would occur (remember we are always dealing with probabilities and possibilities, never certainties) we can then "project" a target price a few cents above $30. This target price is derive