What Some Stocks Are Doing Now is Crazy

by | Jul 20, 2017

What Some Stocks Are Doing Now is Crazy

by | Jul 20, 2017

We saw a lot of stocks go up huge in May and then have key reversal days on June 9th on high volume.

NVDA for instance went up over 68% in less than six weeks.

Then it had a big down day.

That action looked like the makings of a potential top or the start of a healthy consolidation pause that could last for months.

But now NVDA is back up on it’s high.

It’s hard to expect a stock that went up 68% in such a short-term amount of time to immediately begin another big run like that.

But some stocks are in a position where they look like they could take off into bubble top runs.

FB is one example.

Take a look at this technical analysis chart.

  • Facebook
  • Twitter
  • Pinterest
  • reddit
  • LinkedIn
  • Buffer

As you can see FB has been going straight up at an 85 degree angle for the past ten trading sessions.

An advance at that angle is not sustainable forever.

Read the rest at Wall St. Window.

About Mike Swanson

Our Books

9 libooksjuly2023sm

Related Articles

Related

TGIF: Hurrah for Real Globalization!

TGIF: Hurrah for Real Globalization!

Globalization, like the free market and classical liberalism generally, isn't wildly popular these days, is it? People blame globalization for all sorts of bad things, and the raps are usually bum. In truth, to the extent that governments keep out so-called foreign...

read more
Let’s Start Minding Our Own Business

Let’s Start Minding Our Own Business

I look at this country and I see too many veterans unable to reenter society because of their trauma from fighting these endless wars. I look at this country and I see political prisoners like Julian Assange locked up for practicing honest journalism. I look at this...

read more
Yeah, It Was (Mostly) the Fed’s Fault

Yeah, It Was (Mostly) the Fed’s Fault

A not uncommon reaction from central bank defenders in response to criticism is some form of an apology, arguing a lesser of two evils choice. Posing a counterfactual, they present a scenario, say the East Asian Crisis or subsequent Subprime Crisis, which it is then...

read more
Don’t Tread on Homeschoolers

Don’t Tread on Homeschoolers

A 12-year-old Colorado boy became a victim of “woke” education when he was taken out of class and told he could not return unless he removed a Gadsden flag, or “Don’t Tread on Me,” patch from his backpack. The school backed down after a video went viral in which a...

read more

Pin It on Pinterest

Share This