Steel Dynamics Pullback on Rising Large Players Volume

Steel Dynamics has formed a basing pattern after a 61.8% Fibonacci retracement, with rising large players volume.

Steel Dynamics stock has done a 61.8% Fibonacci retracement while large players volume is rising. Steel Dynamics also had a pocket pivot signal on Friday, November 10, 2017.

The catalyst is that steel prices will rebound in light of China’s winter closures and supply discipline. China may reduce steel production by about 33 million mt between mid-November and the end of March 2018, based on S&P Global Platts estimates published October 27, 2017.
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The Secret To The Donchian System For Fast Profits

Richard Donchian was a futures trader, that’s credited with creating the popular Donchian Channel Indicator. Richard Donchian is recognized as the father of trend following.

The Donchian Channel is formed by taking the highest high of x length of time, and the lowest low of the same x number of days, then marking the region between those values on a stock chart.
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IBM Retracement Setup After Earnings and Revenue Beats

International Business Machines Corporation (IBM) stock looks like a good setup after the stock has done a 50% Fibonacci retracement.

On Tuesday, October 17, 2017, IBM reported EPS of $3.30 versus the consensus estimate of $3.28. Revenue also beat coming in at $19.15 billion versus the estimate of $18.63 billion.
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Sorrento Therapeutics Inc Bounce Off 61.8 Percent Retracement

Sorrento Therapeutics Inc has bounced off its 61.8 percent Fibonacci retracement level.
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Transenterix Stock 50 Percent Retracement After FDA Approval

Transenterix stock is coming off a 50 percent retracement after the stock exploded higher from FDA approval of its Senhance Robotic Surgical System. This is the first FDA surgical robotic system approval in two decades.

Where Sehance Robotic Surgical System beats Intuitive Surgical’s da Vinci system is in the fully reusable instruments, which promises to vastly lower the per-procedure cost of robotic surgery.
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Mannkind Corporation Stock 38.2 Percent Retracement On Analyst Buy

Mannkind Corporation stock has done a 38.2 percent Fibonacci Retracement on a new Buy rating on the stock. HC Wainwright picked up coverage of the stock and issued a Buy rating on Tuesday, October 10, 2017.

Mannkind stock also has insider buying. Director Kent Kresa purchased 166,600 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was bought at an average cost of $6.00 per share, with a total value of $999,600.00.
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Celsion Corporation Retraces 61.8 Percent After Exploding Higher

Celsion Corporation has done a 61.8 percent Fibonacci retracement after exploding 180 percent higher last week after releasing data from its Ovation Study.

The Ovation Study is a Phase Ib dose escalating clinical trial combining GEN-1, the company’s DNA-based immunotherapy, with the standard of care for the treatment of newly-diagnosed patients with advanced Stage III/IV ovarian cancer who will undergo neoadjuvant chemotherapy followed by interval debulking surgery.
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Wipro Limited Candle Over Candle On Rising Twiggs Money Flow

Wipro Limited stock has done a candle over candle reversal with a rising Twiggs Money Flow. Although caution is warranted because large players volume is falling.

The three month change in institutional ownership is 3.45% which suggests some institutions are accumulating Wipro Limited.
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Iamgold At 38.2% Fibonacci Retracement Level

Iamgold has pulled back to its 38.2% Fibonacci Retracement level. Personally I’m not very good at swing trading gold and silver but I wanted to make you aware of the Fibonacci Retracement setup. I did a stock trading lesson on Fibonacci Retracements here.

Iamgold Corporation is a Toronto-based international gold producer that has an annual production of approximately 800,000 ounces of gold from operations in North America, South America, and West Africa.

Iamgold

Iamgold

A pullback is taking place, which may present an opportunity for an entry off the 38.2% retracement level. There is a very little resistance above the current price.

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Zions Bancorporation Stock Swing Long Trade Setup

Zions Bancorporation stock has pulled back to the 38.2% Fibonacci retracement level and looks to be attracting buyers off this level.

Compared to an average industry price book ratio of 1.63, ZION is valuated rather cheaply. On top of this, ZION is cheaper than 87% of the companies listed in the same industry. The low PEG Ratio indicates a rather cheap valuation of the company.

With a Price/Earnings Ratio of 19.86, ZION is valued on the expensive side.

Measured over the past 5 years, ZION shows a very strong growth in EPS. The EPS has been growing by 27.95% on average per year.

Zions Bancorporation Stock

In addition to the 38.2% Fibonacci retracement, the Effective Volume study shows that large players volume has been slowly rising.

Zions Bancorporation stock has a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at $44.67. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 43.77, a stop order could be placed below this zone.

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