Tuesday update - more charts - in the end
The following are some stocks for your watchlist for Tuesday. These are all stocks that performed rather well, or at least decently, on Friday which we all know was a down day. So, the logic behind these picks is that if the market goes up from here, these stocks will lead the way. Of course, if the market goes seems to be going down, be careful going long.
How you play these picks is your call. If you are a day trader, you might want to just jump in with the momentum. If you are a swing trader, you might want to wait for a pullback. However, I have pointed out some obvious entry and stop points for these picks.
BTW, there is a new poll to your right. Please take a moment of your time to answer it. Thanks!
Without further ado, here are the picks....
CHKP - Really love the volume pattern in this one. As you can see, its close to making new highs. If volume cooperates, I wold recommend the crossing of the high of the day on Friday - 34.60 - as an entry point if you are interested. Watch out for a run to the upper end of the trend line. ~ 36.
DXCM - What a strong day on Friday!! Look at the volume patterns for the last 10 days or so. Very bullish indeed! Again, getting in as it crosses the high of Friday - 9.89 - seems like a good possible entry point to me.
CGA - Nice bounce off the 50 day MA on Friday. I like these kind of plays which have an obvious stop loss point. A nice doji formed on Friday. A run up to 18 is on the cards if the market cooperates.
FEED - Nice bounce off the support which also happens to be close to MA (200). Its close way off the highs of the day on Friday spoils the chart a little though. The volume patterns look really bullish though for the last month or so and a breakout move from here wouldn't surprise me at all.
That's what I have for now. The regular readers of this blog know I liked PAL and SWC last week. As Palladium made new highs even on Friday, I still like them. I also still like WYNN which I continue to hold going into next week.
Let me know if there are any charts out there that you like and I might add them to the list. I myself might add more charts to this list if I come across any more plays that I like.
Thanks for reading! I hope some of these plays prove to be profitable to you.
I found some more nice charts while going through my scans today and I thought I would share them with you readers. Here they are:
FLOW - Look at the volume pattern on this one! Volume is pretty much the most important factor for me when I look at charts. A nice test of support on Friday followed by a big move up. Remember, all this on a down day. This looks good to run some more!
NKTR - Volume again. I like how it closed close to the high of the day on Friday. Has been testing 12 recently and could really run if it crosses it.
PRGO - Trying to cross the resistance. Get into this only if it crosses the resistance as it might possibly be topping. I like how the price range has got smaller and smaller every day. See an explosive move coming in either direction.
I might not be able to get into any of the picks tomorrow as I wont have time to follow the market in the morning. But if any of these stocks move, I hope some of you readers out there are able to benefit!
Take care and Good Luck trading!