IRM, Iron Mountain Inc.

Hamilton

This company is not a mine company despite what the name might suggest. They are in the document archiving or destruction (shredding) business and just happened to use an old mine to store things underground. Here are the charts;

irm lirm s

On the left is the long-term chart. It shows an absolutely perfect a-b-c B-wave back up from the lows. This would obviously suggest that the next big move is going to be down in the C-wave. The short-term chart contradicts this conclusion. It shows a plausible triangle which would normally have to be a wave 4, so next we should get wave 5 up which, not surprisingly measures about $8 and therefore would bring the stock to within a single dollar of double topping at $38+. Faced with such a high degree of ambiguity one should be prepared for either outcome. Should the stock drop below $28 and then $27 the outcome should be negative. On the other hand if the stock manages to move above $31.25 a thrust up to $38 should be anticipated. Then it would be a sell/short.

Given the overlap that has already occurred, the only logical alternative bullish scenario that remains, is that we are in a “diagonal”, that is a wedge, wave 5 to a new high. The triangle would be wave 4 in the wedge and the coming “thrust”would be wave 5 of the wedge. The end result would not be much different from this being wave 4 of c of B and the target would be , more or less, identical at around $38+.This is shown in red below;

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EL, Estee Lauder Cos Inc.

Hamilton

el b 2012el s 2012

EL Analyst Opinion

This stock has traded at a high of $60.365 but the charts suggest it might go a little higher. The charts and the price targets of 18 brokers suggest maybe $65 is in the cards. By the way not a single broker is suggesting a sell. If one considers that those lucky enough to own this stock, have a six bagger for sure one can only wonder what the adage buy low, sell high  means in practice. In our opinion it means now or hold on with a very tight stop.

    There are a few very good reasons to sell. The upper trend line is at about $65. At $65 waves 1 and 5 are equal. $62 is a nice round Fibo #. A thrust from the present, minor wave 4 triangle, would target about $63. The RSI and MACD are both already heading down. Last but not least, the analysts that are always excellent prognosticators are calling for $63.56, not a single one out of 18 has a sell, it does not seem to be part of their DNA

MSFT, Microsoft

Hamilton

msft lmsft s

Both charts are essentially the same. I like using two in this case as one sort of confirms the other. They can , as always, be enlarged by clicking on them.

Clearly there is a triangle in here somewhere. On rare occasions these structures that normally have 5 legs, a,b,c,d and e, add another 4 legs to make it an a-b-c-d-e-f-h-i.  This one is rather accurate. As triangles only exist in 4th or b-wave positions it has to be one or the other. In this case, being totally out of proportion with a wave 2 if one can even find it, chances are that this is a b-wave in an a-b-c , that is making a large B-wave from the lows. If c should equal a we would get to about $42 which would exceed the double-top level of $37 which normally does not happen. If , on the other hand, c climbs to 0.618x a it would target roughly $34, which also just happens to coincide with the size of the “mouth” of this triangle.

We have no idea what the right number is but the max is about $37, reasonable is $34 and in the end the stock almost invariable drops back to at least the lowest point of the triangle, about $23. So in reality the choice is  between $3 to the upside and $11 to the downside. An easy choice.