Charts to Consider as You Plan for Next Week: StockTwits

NEW YORK (TheStreet) -- Ahead of a three-day weekend, U.S. stocks continued to build on gains since last week's short-lived freakout. Here is a sampling of some great charted ideas to sit with this weekend as you plan your strategy for next week.

First up is this chart on Herbalife  (HLF) that hints at possible good days ahead for notable short-seller Bill Ackman:

$HLF Technically speaking this chart is setting up perfectly for another down move. http://stks.co/g0Vu4

-- Lee Soffel (@Rogue24) Apr. 17 at 09:06 AM

Facebook  (FB) is slated to release earnings next week. This chart displays the path of least resistance:

$FB I think we are setting up for a nice rebound next week. Earning is on the 23rd (Wednesday) http://stks.co/c0S0I

-- NoBrainer (@NoBrainer) Apr. 17 at 09:38 AM

What a ride in Chipotle (CMG) today ("Cheeepoltay's", if you're @howardlindzon). Shares gapped higher at the open, only to get burrito smashed the rest of the day:

$cmg well that's a burrito in the face of the bulls http://stks.co/r0DuM

-- Aaron Jackson (@a_jackson) Apr. 17 at 10:23 AM

Chevron Corp  (CVX) had a fantastic week, but Robert Lesnicki points out a significant technical hurdle that will need to be overcome if the upside party is to continue:

$CVX Very impressive move this week. Now overbought on the RSI. http://stks.co/b0S0K

-- Robert Lesnicki (@TraderRL23) Apr. 17 at 10:25 AM

While nobody welcomes higher commodities prices, the intrepid among us may look to consider taking a long position in the Agriculture ETF  (DBA) to hedge our costs at the grocery:

A nice long setup in $DBA . Could breakout over $29.00 soon http://stks.co/e0S9t

-- Trader Stewie (@traderstewie) Apr. 17 at 11:35 AM


Now here's some bigger picture thoughts for both bulls and bears to ponder. Since the bulls won this week, we'll present their case first. Sheldon McIntyre suggests selling may have already exhausted itself:

$COMPQ Selling exhaustion on Apr. 10 & 'Blood in the Streets' signal suggest a low has been printed. http://stks.co/f0Vx4

-- Sheldon McIntyre (@hertcapital) Apr. 17 at 12:25 PM

And Serge Berger points out a possible capitulation low in the small cap arena:

I would classify the last three days in the Russell 2000 $IWM as a classic rocket launch reversal http://stks.co/r0Dvf

-- Serge Berger (@steadytrader) Apr. 17 at 12:11 PM

Meanwhile, for the bears... here's a chart that shows some resistance that at the very least is keeping a lid on prices in the near term:

$SPY banging against top trendline: http://stks.co/t0DmH

-- Chris Art (@moenchart) Apr. 17 at 11:56 AM

David Blair points us to a decision point in the Utilities space that may resolve itself to the downside:

If last year is any indication we may be getting close to a top on $XLU. It has been a great run. http://stks.co/j0VjB

-- David Blair (@crosshairtrader) Apr. 17 at 01:05 PM

And to finish us off and scare the hell out of everyone, Chris Kimble swoops in with this nugget (correction: Chris later pointed out the 2007 data point should actually read 2000):

only in 1987 & 2007 was this reached, until now! $SPY $IWM $QQQ $STUDY http://stks.co/t0DnE

-- Chris Kimble (@KimbleCharting) Apr. 17 at 12:45 PM

Have a great weekend, all. Follow me on StockTwits: @chicagosean

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

If you liked this article you might like

These Are the Biggest Winners and Losers in Activist Investing This Year

These Are the Biggest Winners and Losers in Activist Investing This Year

Herbalife Is a Buy Now; Ask Me How

Herbalife Is a Buy Now; Ask Me How

Bill Ackman Overwhelmingly Loses ADP Battle in Latest Blow to Activist Investor

Bill Ackman Overwhelmingly Loses ADP Battle in Latest Blow to Activist Investor

What Investors Can Learn From the Herbalife-Ackman Saga

What Investors Can Learn From the Herbalife-Ackman Saga

Short Seller's Critique of Shopify Is 'All Smoke and No Fire'

Short Seller's Critique of Shopify Is 'All Smoke and No Fire'