Alexion Pharmaceuticals, Ticker: $ALXNWealth Strength IndexALXN is Moderately Flat and trending Down
Alexion Pharmaceuticals, $ALXNWealth Strength IndexALXN is Moderately Flat and trending Down, pulled back from a top in October finding support in November. It bounced from there to just over the 200 day SMA and then retreated again. The range then held with a brief trip over the 200 day SMA in March. In May the consolidation tightened to a symmetrical triangle and it broke that to the upside in June. A retest last week and Friday’s reversal make it interesting. The RSI is moving up in the bullish zone with the MACD avoiding a cross down. Look for continuation to participate higher…..
Green Dot, $GDOT, gapped higher in May and then consolidated the move. It then pushed higher again into June but fell back at the end of the month. The drop brought it back to the 50 day SMA and it prior support. Friday it confirmed a reversal off of support. It has a RSI that is also turning back higher after holding in the bullish zone during the pullback but the MACD is still falling. Look for continuation to participate…..
Generac Holdings, $GNRC, ran higher fast to a top at the beginning of November. It pulled back in a shallow arc at first and then to the 200 day SMA in March. It consolidated in a range then for 2 months before moving higher. Three weeks ago it retested the January high and pulled back to a higher low. Last week it started higher again. The RSI is rising in the bullish zone and the MACD is turning to cross up and positive. Look for continuation to participate higher…..
Meet Group, $MEET, started moving higher in April. It crossed the 200 day SMA in May and continued to a top in June. This is at the gap down level from August last year. The RSI is holding after pulling back from an overbought condition and the MACD is leveling. Look for a push over resistance to participate…..
Nutrien, $NTR, started to pullback from a top in January, finding a bottom in February. It bounced to a lower high and then fell back. It consolidated and confirmed a double bottom on a move over the April high with a gap up in May. It stalled at the March bounce high and retreated to a higher low. Since then it has pushed through resistance and is approaching the January high. The RSI is bullish and rising with the MACD flat and positive. Look for continuation to participate higher…..
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