This quick hits update will cover a wide swath of companies.

AAPL, CAT, DIS, FB, GOOGL, MGNX, SAVE, SIRI, TSRO, TSLA, X & XLF

Consider this an overall check-up on the market. The sentiment of the majority of these charts just may provide some insight as what to expect over the next several weeks to months.

Remember that this is a quick hits version. If you want some additional details on a chart or want to discuss a specific company further, head on over to the Idea Chamber and let’s discuss it or analyze it further!!

Apple (AAPL)

Even after making a new all-time share price, Apple (AAPL) still did not surpass its all-time market capitalization. Why? It has less shares outstanding now than it did previously. Market capitalization is the number of outstanding shares times the share price. Can Apple (AAPL) succeed in becoming the first trillion dollar company?

This is a 3 year weekly candlestick chart for AAPL. Most well performing breakouts re-test the breakout area before the uptrend continues. Does AAPL push higher this week to the $140 – $144 area before pulling back and re-testing the breakout area from the previous highs? Its MACD Histogram still shows increasing buying momentum.

If shares can be purchased in the gray shaded box before AAPL moves higher and reaches its $144 and $151 price objectives, that is a good place to repurchase sold shares up at current price levels or slightly higher at the beginning of this week. It can also a place to simply jump back up on the uptrend again, as higher price targets for AAPL’s share price are still in play.[s2If !current_user_can(access_s2member_level1)]….

You must first login to continue reading this article where I cover upside and downside price targets for several companies, including:

• Caterpiller (CAT)
• The Walt Disney Company (DIS)
• Facebook (FB)
• Alphabet (GOOGL)
• Macrogenics (MGNX)
• Sirius XM Holdings (SIRI)
• Spirit Airlines (SAVE)
• Tesla (TSLA)
• Tesaro (TSRO)
• Twitter (TWTR)
• Under Armour (UAA)
• US Steel (X)
• Financial Select Sector SPDR ETF (XLF)

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Caterpillar (CAT)

This 3 year weekly chart suggests a $90 price area for those wanting to purchase shares on a pullback to its supporting trendline.

A purchase at the $90 or below could results in an upside trade of 20%+ as it reaches the expected upside price target of the 161.8% Target Line, or the $108 area. That would also help to complete what appears to be a 2 year round trip back towards its previous highs. Any pullback before reaching the $108 area could be an opportunity to jump in on the uptrend.

The Walt Disney Company (DIS)

The Walt Disney Company (DIS) had a 3 Weeks Tight chart pattern develop several weeks back now. That is an area of strong support for a pullback and is around the $105 area.

I have been personally waiting on a pullback to the 200 Day moving average to repurchase shares for my mom’s IRA account. This is after selling her shares on the way up in the uptrend. I sold the majority of her position around the $105 area.

DIS appears ready to drift upwards next week and re-test its high during the uptrend. I think the uptrend is over though and will continue to wait for a pullback towards the lower end of the gray shaded box. An uptrend that took 3 months to develop does not finish correcting in a 3 week period. At a minimum, it needs probably another 3 weeks to finish its corrective pattern, whatever that may be.

If DIS’s share price does push higher, I would not anticipate it is for long. I do anticipate at least 1 pullback before its next earnings report, and that pullback I believe is in progress.

Facebook (FB)

This is a 5 year monthly candlestick chart for Facebook (FB). It shows a Trading Channel I have been monitoring for some time now.

If Facebook (FB) can show increasing buying momentum, its share price could attempt to reach a $150 target area. If not, another trip to the $110 area could be in store to finish a larger correction process at hand that I just don’t realize yet. Let’s see what the end of February and the beginning of March brings….

Maybe Alphabet’s (GOOGL) chart can shed some light on FB’s chart….

Alphabet (GOOGL)

This 3 year weekly chart for Alphabet (GOOGL) provides better hope for a continued uptick in the market. It’s share price is trying to close above the resistance area from the 2 bearish reversal candlestick patterns. If it can do that, good things should be ahead in general for not only Alphabet, but probably the market as a whole.

If a Wave 3 is in progress for Alphabet (GOOGL), its share price should continue its ascent over the next couple of months with pullbacks of probably not more than 5%. I like the looks of this chart for Facebook also. Both rely on advertising. Facebook’s chart isn’t so clear, but Alphabet’s chart does provide for some bullish outcomes. Here’s to letting the market bull rage on for a few more months!!

Macrogenics (MGNX)

This 5 year monthly candlestick chart is a longer-term look at a possible reversal. I pointed out a bullish reversal candlestick pattern on the daily chart for Macrogenics (MGNX) in the Idea Chamber last week. Let’s see if the longer-term charts agree with a possible bottom and reversal for MGNX’s share price.

Any rebound in MGNX’s share price should bring it back to the top of its Trading Channel according to the Fibonacci Extension Tool and its 100% Target Line. Any breakout for biotech in the coming year could help lift all stocks in general. If MGNX were to have some additional good news along with a market cooperation, could the 161.8% Target Line be in store for its share price within a years time? Any breakout is probably going to have to involve some sort of drug approval or a possible buyout. Regardless, a move back towards the top of the Trading Channel can still offer an excellent trading opportunity based on its current share price.

Sirius XM Holdings (SIRI)

Let the good times roll baby. And just like that SIRI is over $5 and probably not going to look back much. And if it does pullback below $5, back up the figurative truck. You have the backing of Berkshire on this one now. Other large funds are going to follow now that the share price is above $5.

The trendline I identified with the black arrow is the main supporting trendline for Sirius XM Holdings (SIRI). It has a beginning point of $0.05 for those not familiar with SIRI’s bottom almost a decade ago now. It makes me sick every time I think about sitting in front of the computer that day watching SIRI’s shares get sold off on Level 2 down to that $.05 level……if I had only not just got burned for $10k on another trade….

While I still joined the trend finally at $.78 or thereabouts, that day will always be one of my greatest investing regrets. Time to join the current uptrend on any pullback to $5 (or slightly below with a little market weakness and help).

While the gray shaded box may represent some short-term price targets for SIRI, if its share price closes near the top of it by the end of March, stay long and buy the pullbacks until the upper $6.50 price target is reached.

Buy the dips to $5 or below and hold onto them. Major Tom to ground control.

Spirit Airlines (SAVE)

Several airline purchases were announced recently as additions to the Berkshire Hathaway portfolio. Spirit Airlines (SAVE) was not included in the bunch that I heard disclosed on CNBC. Alaska Airlines was a major holding added, a stock I’ve recommended in the past.

If SAVE’s MACD Histogram on its weekly chart starts to show a slow-down in selling momentum at the beginning of next week and its share price starts to rise, a trade back up to the blue 100% Target Line and possible the 161.8% Target Line could be in play. Make sure the MACD Histogram is the trade’s friend though, not its enemy.

Tesla (TSLA)

This 3 year weekly chart for Tesla (TSLA) shows it met resistance near its previous all-time high and also with an overhead resistance trendline. It formed 2 weekly bearish reversal candlesticks in the last 2 weeks. The first bearish reversal candlestick was a Doji. The second one was a Bearish Engulfing candlestick.

I placed a Fibonacci Extension Tool on the above chart. It suggests that the $250 price area may not hold as support. A continued push to the $245 area may occur. After that, TSLA’s share price should rebound some and could even go back to its overhead trendline and test that resistance again. It would need a market that is still trending upwards for that to happen IMO.

However, the best area to purchase shares has become more visible now and that price area suggests a $220-$230 entry price target. That would suggest a couple more weeks of patience combined with some overall market weakness. Is this a foreshadow for the market?

Tesaro (TSRO)

This is a 3 year weekly chart for Tesaro (TSRO). How will earnings next week mix with recent buyout rumors?

Considering the strong uptrend it has been in, any earnings disappointment from next week’s earnings should find support around the $165 price level. That is the price of the trendline for the current uptrend. I would think it would take some really bad news to break that uptrend until TSRO’s share price reaches for its higher price target and possible buyout price area of $220.

The buying momentum on the MACD Histogram appears ready to round off. Only slow down of buying momentum next week could result in a pullback to the supporting trendline.

US Steel (X)

After my nice earnings call from the $30 area for US Steel (X), its share price ran up to the $40 area as anticipated. But after reaching this price target, US Steel (X) has developed a bearish reversal candlestick, a Bearish Engulfing candlestick pattern. This is a 3 year weekly candlestick chart.

After reaching some common price targets from the Fibonacci Extension Tools, US Steel (X) developed a bearish reversal candlestick. That indicates a correction is at hand for X. I recommend taking some profits if you were in the trade from lower levels and waiting for a pullback based on the bearish candlestick pattern and Fibonacci price targets being reached.

Financial Select Sector SPDR ETF (XLF)

Last and least, let’s get a gauge on the financial sector by looking at this 2 year weekly candlestick chart. There has been tremendous buying volume during this uptrend as reflected on this chart. I see any pullback to the $23 area or below as an opportunity to join the uptrend.

After spending several weeks consolidating, XLF formed a Rising Window candlestick pattern on the above chart. It has yet to “close the window” (close the gap-up). If the XLF does not close the gap next week, expect higher prices for the next couple, possibly reaching for the 261.8% Target Line from the blue Fibonacci Extension Tool.

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