Recent Top Call by Mike Paulenoff

This past Monday, with Nike (NKE) poised to report earnings later in the week, Mike Paulenoff told MPTrader members that "NKE is vulnerable to a press into the 140-143 target zone either ahead of, or in reaction to, the earnings news."   NKE was trading at 161.75 at the time, and by the week's end the stock was 149.59, having hit a low of 148.

Back on August 18th, nearly two weeks ahead of ZM's (Zoom Video Communications) earnings report, Mike Paulenoff cautioned MPTrader members about the stock.   Mike wrote:  "The price structure, which has pressed relentlessly lower (15%) since its 8/05 rally high at 404.35, is probing -- and trading below -- its 100 DMA, now at 345.67, and is considerably beneath its 200 DMA, now down-sloping at 367.20.

In our Top Call article a month ago, we told you about how Mike Paulenoff called AAPL's upside continuation, with the expectation that the stock could extend a little higher before upside exhaustion. AAPL, indeed, went on to stair-step higher to reach a high of 157.26 high last week, overshooting the upper boundary of Mike's 153-156 projected high-zone by just 0.8%. It then proceeded to initiate the expected bout of weakness that accelerated to the downside this past Friday.

On August 11, Mike Paulenoff alerted MPTrader members to a significant upside reversal signal in AMZN.   Mike wrote that "the 500 point decline is nearing downside exhaustion," noting a preferred downside target zone of 3180-3200.   Fast-forward to August 20, when AMZN pressed to a new multi-month corrective low at 3175.76.

On August 3, Mike Paulenoff alerted MPTrader members to the developing setup in AAPL that also would eventually impact the broader market:        Mike wrote: "AAPL continues to levitate within a high level digestion period and pattern off of its ATH at 150 hit on 7/15. All of the action since mid-July certainly resembles a Triangle pattern atop the May-July upleg from 121.68 to 150.

Probably the first price pattern both fundamental and technical investors learn to recognize is a Head and Shoulders Top. Rightly or wrongly, it is the Holy Grail of technical formations, striking fear into holders of the stock, index, ETF, or commodity that exhibits such a technical set up, while eliciting an opposite reaction from put owners and short sellers who anticipate huge gains captured by impending weakness.

Last Wednesday (July 14), with AAPL trading at 148.65 but off of its new all-time high at 150, Mike Paulenoff alerted MPTrader members to potentially consequential yellow caution flags emerging in his technical setup work.   Mike wrote:   This morning, JPM raised its Target Price to 175, one day after Citigroup raised its Target Price to 170. Do I hear 180... 185? Crickets at the moment. The Street is falling all over itself in its bullish view of AAPL.

Back on June 24, Mike Paulenoff alerted MPTrader members to a developing bullish technical set-up in solar panel producer Jinko Solar Inc. (JKS):   Mike wrote:  "Time to keep an eye on the solar names (JKS, CSIQ, SPWR, FSLR, DQ) because all of them have the right look of either nearing the conclusion of deep multi-month corrections, or starting new uplegs after already completing deep corrections. My sense is that these names ran up big time into the Nov.

During the early afternoon last Thursday (6/24), several hours prior to the release of Nike's (NKE)'s quarterly earnings, Mike Paulenoff posted his chart analysis designed to answer the following question: Does the technical set up in NKE heading into earnings hint at a likely directional price reaction to the news? Mike wrote: "From the look of my attached Big Picture WEEKLY Chart, the stock looks like it could be about to emerge from a 6-7 month high level bullish

On May 27, Mike Paulenoff posted the following bullish commentary about iron ore producer Cleveland-Cliffs (CLF):       "CLF is up 6.7% today precipitated by the company's announcement that it intends to pay off a slug of debt of holders of Senior Notes due in March 2025!  There is nothing Wall Street loves more than profits, but a close second is reduction in debt. Technically, CLF's U-Turn off of Monday's low at 17.

On the morning of May 27th, just hours after Nvidia Corp. (NVDA) reported earnings, Mike Paulenoff gave this bullish assessment to MPTrader members: "In the absence of damaging weakness beneath last eve's algo, knee-jerk spike low at 611.02, and subsequent follow-through beneath 600, my technical work remains 'friendly,' and points higher, to test the ATH at 648.57, in route to 675-680 thereafter." The stock, which was trading at 628.

Back on July 16, 2020, Mike Paulenoff alerted MPTrader members to a potential turn in the long-term downtrend in the grains markets, reflected in his trend analysis of DBA (Invesco DB Agriculture Fund), an ETF consisting of agricultural commodities (grains, softs, and livestock).   In that changes in inflationary expectations are at the forefront of investor's considerations for the first time in decades, Mike's focus on a potential sharp climb in grains prices certainly was well-timed and well-received.

After Home Depot (HD) announced earnings on Tuesday that beat the Street on most of the important metrics, goosing the stock to the 327.25 area, Mike Paulenoff cautioned MPTrader members.   He briefly discussed HD's near-term technical set up, which looked promising as long as HD held support above 315.21, but then added:   "From a Bigger Picture perspective, my work presents some less promising prospects for HD's potential upside price path.

This past Friday, 30 minutes before the release of Retail Sales data for April, Mike Paulenoff posted his analysis of XRT, the SPDR S&P Retail Sector ETF. After explaining in detail his analysis, which you can read here, Mike concluded:  "All of the action from the Jan. 28th high at 99.24 through Tuesday's (May 12th) higher pullback low, represents a larger, bullish digestion period and pattern atop the dominant 15 month uptrend.

Back in early February, with CVS trading at 73.19, Mike Paulenoff alerted MPTrader members to a bullish technical setup in the stock, writing:   "CVS exhibits a potentially very powerful multi-month set up, and as a matter of fact, looks like it just ended a correction from 77.23 (1/12) to 71.04 (1/29, and right at its up-sloping 50 DMA)."   He added, "If reasonably accurate, [this] means that CVS is entering a new upleg that should challenge and take out 77.

On Friday April 23, Mike Paulenoff alerted MPTrader members to an upside opportunity in Advanced Micro Devices (AMD) ahead of its earnings release on Tuesday April 27:   Mike wrote:  "Right now, we should lean towards a bullish reaction to the news, and if 85 is hurdled and sustained, then AMD will be positioned for upside continuation."   However, Mike cautioned that the stock needed to get above the 90 resistance area or could stall and reverse lower.

On March 30, with Salesforce.com (CRM) trading at 210.95, Mike Paulenoff wrote MPTrader members:   "The relentless stair-step decline within the Sep.-Mar. down-channel is nearing completion ahead of my expectation of a powerful upleg that revisits and takes out the ATH at 284.87."   Fast-forward to last Thursday afternoon, April 8, when CRM finally received some long-awaited price support from Wall Street.

On March 8th, when XLI was trading at 95.88, this is what Mike Paulenoff discussed with our MPTrader Members about the S&P Industrial SPDR ETF: "In addition to the XLB (Materials SPDR), another vehicle (arguably a better one) to ride the infrastructure spending narrative, is via the XLI Industrial ETF.

Soliton (SOLY) rallied 37% in the weeks after Mike Paulenoff highlighted it for MPTrader members on March 10.  Where's it headed next?   SOLY is a medical device/biotech company developing a promising product, with a 2-year chart setup that caught Mike's attention early in the year, suggesting sooner than later that price would reflect the underlying company fundamentals.   Early on March 10, with the stock at 13.

On Monday morning March 1, Mike Paulenoff alerted MPTrader members to a potential up-move in U.S. Steel (X):   "If an infrastructure plan really is doable early in the Biden Administration, and if the 440% upmove from the March 2020 low to the Jan. 2021 high has not discounted just about every conceivable growth scenario, then X is turning up into another upleg as we speak.  As long as any forthcoming weakness is contained in the 16.40 to 15.