Short Cuts

Regardless of tape action, stocks still can crack and implode, we see it all the time. Here are some weak patterns to review.

$LUK  is rolling over and is in a bear flag. If it breaks 27.70 with volume, look for a target of 25.50


$RBC  The right shoulder of a head and shoulder pattern collapsed and broke down 0n April 30.  You can short here or wait for a break of the 64 level. Could see mid to high 50’s as a target.


$VSI broke down in late February and hasn’t gotten above the 50 day moving average since the breakdown.  It made 3 attempts last week to get above that moving average and failed every time.  Look for a move to 43 and perhaps lower if it breaks 43.


$CHRW This has bounced off lateral support 3 times in that last two months. Maybe its done going down, but if it breaks lateral support (white line), then look for a move to 50-52.


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