Jefferies Financial Group Inc. Stock Code JEF.NYS
Outlook
Price broke above the cloud with a strong green candle yesterday, which was larger than the candle range for the past 2 weeks. Price closed above the cloud as well, hinting of a start of a bullish uptrend in progress. Price is trying to break above a 9-month down trend line and if price were to move above it, it would be a strong signal of a change and reversal of the bearish trend. Both Conversion and Base line had a bullish crossover earlier and both lines are moving steeply upward, hinting of a strong bullish trend. A gap above the previous day’s price is also another hint of the bullish trend. MACD is starting to turn bullish, hinting of a start of a bullish trend.
Strategy
$19.95 Buy
$$22.10 Price Target
$19.05 Risk Management stop
3 weeks Trade Duration
Best Buy Company Inc. Stock Code BBY.NYS
Outlook
Price broke above the cloud with a strong green candle the previous day and closed above the cloud on that day. Both Conversion and Base line had a bullish crossover before price broke above the cloud. A gap created over the past two days also highlighted the strong uptrend. There was also a small Inverse Head and Shoulder chart pattern formed. The target for this chart pattern lies at $77.66. MACD has turned bullish and is also rising, hinting of a bullish trend ahead.
Strategy
$72.43 Buy
$77.66 Price Target
$69.50 Risk Management stop
3 weeks Trade Duration
