Stock Watch for October 22, 2019

CBL broke out from a triangle last week which also happens to be the handle of a "cup and handle chart pattern". It's currently approaching the 1.70 neckline and when it does, it could experience some selling pressure at that level. However, if that gets cleared out the next barrier could be 2.00. On the flip side, the current support could be 1.40 then 1.25 next.


Two months ago was the debut of INMD in the US stock exchange. From a low of 13.06 on the day it went public, it made a high 29.38. By the looks of the chart, the stocks are currently sitting right below its immediate resistance and could experience some significant selling pressure at the current price point all the way to the 29.38 high. However, if that hurdle gets taken out, the next target could be 35.00. On the downside, the immediate support could be the 3-week uptrend line and if that breaks, the next stronghold could be 23.00.