Technical Trends: MA Channel Review

Patience is one of the major keys to profit. In waiting for opportunities that are intermediate or long-term, it is critical to reduce risk is much as possible by the implementation of precision timing.

Moving average channel method developed by me, Chimp Jacob, many years ago will not catch tops and bottoms precisely, but it will keep you in long-term trends very effectively. Here is a synopsis of where we stand on some of our recent recommendations and/or watch list with regard to our technical trends symbols: JBLU, JCP, JJG, RAX, RSX, and WFM.

Let’s take a look at the charts in order to determine if we are at or close to opportunities. First let’s look at JBLU. The weekly chart below shows support at the bottom of the weekly moving average channel with an uptrend still in process.


JCP, shown in chart form below, is also in an intermediate term up trend support at the bottom of the moving average channel.


JJG, the grain ETF, has finally broken out to the upside after many weeks of consolidation. A test of the moving average channel support is possible; however the buy trigger appears to be valid. See the chart below.


RAX has given weekly sell triggers. An examination of the monthly RAX chart shows monthly sell triggers as well however these cannot be confirmed until the end of July. RSX has also given weekly sell triggers. See chart below.



WFM has also turned bearish on weekly charts but as you can see below we are now approaching levels which held a number of times in 2014. Pending new buy triggers be prepared for recommendations.


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