Since I am expecting a short term bounce in the markets in the very near future, but the momentum to still remain with the bears, I decided to include both long and short setups in this post. Let's have a look at the short setups first.
AA - Both MA(50) and MA(20) right above as overhead resistances.A good entry would be on another rejection at MA(50) or on a break of Thursday's lows.
AMAT - Nice bearish volume pattern. The move upwards on Friday was on really low volume.
OCR - A short at the resistance level marked.
And here are some long setups.
IT - Consolidating nicely after the breakout. Stop should be placed below the level marked.
NSU - Consolidating nicely around the 4 level. Has breakout potential.
PCLN - A textbook breakaway gap. Can be entered with a stop below the gap.
Take care and good luck for next week!
2 comments:
Love the shorts listed here. AMAT looks ready to hit 11. I have a feeling a lot stops may be utilized by traders in the next few weeks.
What no Netflix? Did you get my analysis? It said it was too large and gave an error but i didn't know if you got it anyways. Still would love to here your thoughts on that stock. Thanks again.
Thanks Bill! Your analysis of Netflix did get published. I still have plans on doing a complete post on NFLX sometime later tonight.
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