BBBY, CMCSA, CMG updates 08/15

It’s been a while since I updated these less sexy stocks compared to the FAANGT’s for example, but they do exist and can be trade. So here it goes 🙂

BBBY: I received another 20% off coupon in the mail today, and wondered how their stock’s doing. Well… not so good. Price is still in (blue) Primary-C of (pink) Cycle-2 down and should find support in the $27.50-$16.50 area. It’s a wide range because there’s still no reversal in sight. We need to see price move AND close above the two white downtrend lines. Once it does that we can be pretty confident the downtrend is over. Monthly OHLC chart shown.




CMCSA: The most hated cable company in the country, right? Well, not according to traders and investors. It’s been on a tear since 2009. Price counts nicely as impulses up, and is now in minor-5 of intermediate-iii of major-5. I expect it to top in the $45-$46.50 area and then drop to ideally $39-$36.50 for intermediate-iv before intermediate-v of major-5 finishes primary III at around $48ish. Then (blue) Primary-IV should develop as a zig-zag because Primary-II was clearly a flat, and target around $27ish before Primary V rips it all back up to $50+ to complete Cycle-1. Monthly OHLC chart shown.



CMG: Sorry Chipotle, but looks like your stock will drop much lower. First: (blue) primary-B failed to even reach the ideal blue target zone I had. This is already a sign of a weak stock. 2nd if we assume a c=a relationship then CMG should drop to around $100-$75… Given that it was a $750+ stock in 2015, that’s a 10x reduction in value. So much for a buy and hold strategy… Note that the market of course doesn’t have to do a c=a relationship, and that the primary-II low at ~$225 will act as good support again. But for now, we have to continue to look down. Monthly OHLC chart shown.