Some Nemo Set Ups
- Posted by UpsideTrader
- on February 9th, 2013
The Nor’easter that is Nemo has hit the northeast. Hope everyone is toasty warm. Here are some setups for your Saturday perusal.
The S&P ($SPX) continues to chop around in its sideways channel. This action really does validate the cliche of a “stock pickers market” as there are clear breakouts all over the place. Lately the market in general feels like it running in mud as it navigates a tight channel, but individual names are popping nicely. Just look at the charts of $ROC, $AOL, $GOOG (all time high), and $LNKD.
Here are some interesting set ups for next week.
$AMWD- My subscribers caught this breakout last week around 29. The stock is now working a nice bull flag and is retracing beautifully on light volume.
$FNSR- I believe I posted this last week, still love the set up. Inverse head and shoulders, use the 10 day moving average area for your stop.
$TPX – This one broke out a couple of weeks ago and then had a follow through day higher. It is now in the process of a light volume retracement. It has also filled that follow through day gap. The 50 day moving average s also trying to cross up through the 200 day moving average.
$PVA – I put this in the “everyone loves a cheapie” category. This one broke out last week on good volume and is now showing a pretty bull flag. Look for an initial move to the 200 day moving average around 5.50.
$DNDN – Broke out above its 200 day moving average last week on volume. It also managed a close above the 50 day moving average on the weekly chart. It is up against some resistance that goes back to June, but if it can get above that, I see targets of 8-8.50
Have a great weekend. Come by for a free trial here
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »
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