GMI= 6 (of 6) Time to look for GLBs: $OLED and 10 week bounces above green line $COUP

GMI6/6
GMI-26/9
T210849%

A set up I like is when a stocks breaks above its green line top (GLB) and on a weekly chart has just bounced up above its 10 week average. OLED is such an example. Dotted line= 10 week average.

 

I also like a 10 week bounce to a new high on a stock that is above its last green line top. COUP is an example of this set up.

If I buy these set ups I sell if it closes back below its 10 week average or the weekly low of the bounce.

With the  GMI  strong, it is time to look for GLBs.

 

GMI on verge of turning Green; GLB: $SHAK

GMI4/6
GMI-25/9
T210841%

The markets appear to be strengthening. A solid day on Thursday could also create a new QQQ short term up-trend. A number of stocks look promising. After the excitement of SHAK’s IPO in January, 2015, the stock retreated from a high of 96.75 to a low of 30.12 in September 2017. SHAK has now had a GLB to an all-time high.  This monthly chart shows the pattern. I often buy an IPO that forms a green line top when it eventually breaks above it.

The GLB actually occurred a few days ago, rested,  and the stock took off on Wednesday. I bought some and will sell if the stock closes back below its green line. I tweeted about SHAK intraday on Wednesday. Sign up for my tweets: @wishingwealth