Strategies & Market Trends : Underexposed Technical Analysis

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From: Underexposed10/5/2017 10:13:32 PM
   of 379
Adding CHEGG inc. [NYSE:CHGG] to the Fantasy Portfolio

Well, my search is over for the new stock for this portfolio

Fundamentally they are almost in the black and have no long or short term debt

CHEGG Financials

Technical analysis

I think I finally figured out how to scan for prospects before the break out.

here are the charts

See how the chart shows a small breakout from that resistance at $15.40....the Moving Averages are very bullish even though the stock has been in consolidation for over a month. A spread triple top breakout is quite bullish.. the computer predicts a rise to $18 but I think that is conservative in this case.

The Trigger chart is set BEFORE the breakout happens. See how the Slow Sto has reached 80 and the MACD followed it as far as the positive slope is concerned. All we are waiting for is the BBWidth rising suddenly. The Bollies are tight and that can happen at any time.

The Sentiment chart on the left shows all indicators as at least mildly bullish. Even the Par Sar looks fine

The Ichimoku chart is totally bullish. The share price is high above the clouds after bouncing off the Green cloud. the thin blue line in the Ichi chart isbullish as well.

The bottom 2 indicators are full on bullish.

So Oct 5... today I am entering an order as follows

Buy 1400 shares of CHEGG Inc. [NYSE:CHGG] @ $15.40/share ($21,560.00 expenditure)



I am not a registered broker. I am retired and use Technical Analysis as the main tool in my investment decisions. Accept or reject my comments as you will, but do your own Due Diligence (DD) before making any decisions based on the information I provide.

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