Some Nemo Set Ups

blizzard 300x198 Some Nemo Set Ups

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.

amwd1 300x198 Some Nemo Set Ups

$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.

fnsr2 300x197 Some Nemo Set Ups


$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.

tpx1 300x198 Some Nemo Set Ups

$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.

pva 300x197 Some Nemo Set Ups

$CRZO  Stock is working a bull channel just under the 200 day moving average (similar to the $DVN set up I posted). Could breakout at the 22.80 level.

crzo3 300x198 Some Nemo Set Ups

$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

dndn3 300x197 Some Nemo Set Ups

Have a great weekend. Come by for a free trial here


Joe Donohue

Joe is a full time trader with 25 years experience. He is a senior contributor and investor in Stocktwits and has been seen on CNN Money and quoted in Marketwatch, Forbes, Reuters, NY Times and Wall Street Journal.