I am using wide charts to better capture a bigger view of these two stocks (FB & CHL). Click the charts for a clearer view.
These are just charts I find interesting for your consideration or dismissal.
FB (daily chart) was noted in last week’s Trade Log and the NFTRH+ Charts & Notes segment of NFTRH 534. I bought it as it crept over the SMA 50.
Today it broke through the resistance of the December high. If it can hold this breakout (always a question in volatile markets) the target of 165 is noted. If it were to drop back below the breakout area it could set its sights on filling the gap down below at 138.
A non-overbought daily RSI has room to run.
CHL (daily) sports an interesting pattern, from which it is trying to break out. This is just a look-ahead in the event it does break out.
The weekly chart shows the resistance that stands between CHL and a target of 61. This is very similar to the situation we highlighted in SSRM several weeks ago before it eventually broke out.
While the daily chart shows both RSI and MACD looking a little peppy, the weekly indicates that an eventual breakout could have room to run before it gets overbought.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.