Top 2014 Tech Stocks
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Top 2014 Tech Stocks

Henry Gambell 1/6/2014

In today's free video I wanted to take a look at two longer-term opportunities that are coming up in these. You know Activision Blizzard, they're more of a gaming company. And then Nvidia (NVDA) is the other that I'm going to look at and well a lot of them have some things in common. They are very different companies. But the thing with ATVI, you had a very nice day on Friday. The daily squeeze has fired long here and it's kind of taken it out of a range of consolidation.

So when you see that those squeezes are starting to pull stocks out of these ranges and then you flip back over to the weekly chart and you see the same signal, these are very powerful set ups. So here you had a weekly squeeze that triggered and took a very nice percentage gain. Here the squeeze has triggered long, same idea, and this is also a very nice idea where if you measure the previous swing high against the swing low, you went right into some key extensions. So if you're just going to repeat these patterns you now have a fresh weekly squeeze that's looking to do the same thing, and if you take the major high to low, you're looking at 19.09 up into 19.93. So Activision has fairly cheap options. I would look at going somewhere near a hundred [days out] and just whatever you're willing to risk on these contracts, just pick them up and let them ride. So I like that set up there.

The other we are looking at is NVDA which is a very similar set up. So here you saw a weekly squeeze that carried you very nice. This one -- the average swings you were using -- you know some minor targets were made there. You weren't able to clear these highs off of it, but for a $12.00 stock that was a nice move. The one here was a little bit more mild but essentially it's forming again.

With these types of patterns you want to think just always, you know, play the exact same patterns in the exact same way. Then you're not having to second guess -- OK, should I be in this one, should I not, and then you're basically in the move ready to participate when it breaks out instead of looking at days like this and not having your position. So anyway, those are two charts that I'll be looking at on Monday. Hopefully it helps and we'll see you guys at the next free video.

Now one other thing that I want to make you guys aware of is that on Thursday, January 9th -- so that is Thursday this week -- we're going to be having our webinar on The Voodoo Lines. So obviously these have been very important in my trading. They've been a great addition to the things that I like to follow throughout the day and they work really well. So if you haven't had a chance to check them out this will be a great night to get up to speed on them, and I hope to see you guys there.