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Melvin Pasternak, Ph.D., is an experienced market technician. He designed a course for TD Waterhouse titled "Winning in the Stock Market," which combined intensive technical and fundamental analysis to uncover how to profitably beat the market.
He was a professor at the Mount Royal University in Calgary, Alberta, for more than 25 years. In 2006, after retiring, he published a book on candlestick charting, "21 Candlesticks Every Trader Should Know." He has been interviewed several times by CBC Radio-Canada and the Calgary Herald.
Melvin has written for Street Authority and its sister publications since 2003. He first wrote a newsletter titled The StreetAuthority Swing Trader, and later Double-Digit Trading. For the past several years, he has contributed to Profitable Trading.
A highly bullish chart formation predicts a double-digit run in shares of this well-known company.
One group has only begun to feel the heat from plunging crude prices, and this stock looks especially vulnerable.
While its technology is promising, shares appear to have gotten ahead of themselves. Sell now.
The recent rally in this struggling stock is likely to be short-lived. Here are four big reasons why.
Shares have been pummeled, but there is still plenty of room for shorts to profit on the downside.
Shares of this growing company have just formed one of our favorite bullish chart patterns.
This robotics leader just took out an important resistance level and could now move sharply higher.
Fear put the entire sector on sale, but shares of this company just broke out to the upside.
A host of technical and fundamental factors put the e-tailer at the top of our shopping list.
It boasts strong revenue growth and a chart pattern that puts it on the brink of a big rally.