3 Stocks To Watch This Week

Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Monday, the 6th of January.

2 Stocks To Watch

Eli Lilly and Company (NYSE:LLY), developer, manufacturer and seller of pharmaceutical products worldwide, had a new monthly Trade Triangle today at $51.62 and in doing so also broke above an 8-month long-term downtrend line. This stock is clearly in an uptrend and I would want to treat it and approach it from the long side.

My upside target for this stock is $57-$58. As always, I will be using the weekly Trade Triangle for any subsequent exits and entries.

Information technology (IT) and infrastructure management software company, Solarwinds (NYSE:SWI), appears to have completed a 61.8% Fibonacci correction from its highs set back in September of 2012 around the $60 area. Continue reading "3 Stocks To Watch This Week"

Remember Groupon?

Yesterday, Groupon (NASDAQ:GRPN) flashed a new red monthly Trade Triangle. I believe this is a significant event for this stock, as it has also broken a long-term nine month trend line and completed a major head and shoulders top.

1.) Green Monthly Trade Triangle at $5.50 on 1/14/13
2.) 9 month long-term trend line
3.) Head and shoulders top
4.) Head and shoulders neckline
5.) Target zone below $6.00
6.) Red Monthly Trade Triangle at $8.60 on 12/02/13
7.) Resistance at the 50 Line on the RSI Indicator Continue reading "Remember Groupon?"