The VoSI VooDoo Report
Offbeat Ideas and Commentary from the Depths of Gil's Trading Notes
Note the interesting action in TWTR and SNAP...TWTR posted a bottom-fishing pocket pivot yesterday and is turning higher, while SNAP is posting an undercut & rally move as it comes back up through the prior 17.59 low in the pattern.
NFLX is hanging out in an "L" pattern along its 50-dma...I would watch this for a possible "LUie" type of move where the L turns into a "U." Note that stocks like FB and others have pulled this sort of move off when they look ugly. I would like to see a decisive move back up thru the 50-dma to confirm a potential LUie pattern in the making.
APPN is another interesting name as it undercuts the prior low at 17.05 in what looks like its first IPO base...this sets up a U&R move using the 17.05 low as a selling guide. The stock is a relatively new IPO in the cloud space as it provides a cloud platform on which companies can build their apps.
Fair disclosure: We have or are working positions in these stocks.
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