Sunday, August 29, 2010


Here are some setups I like heading into next week.

AMMD - Holding up the gap support (from May) very well. A hammer formed on Friday and the stock closed right above MA(200).

APL - Consolidating very nicely after the big move up in July. A buy on the break of MA(20).

CBG - Forming a nice bullish flag after a big move up in July. Watch out for a break of the flag on the upside. MA(50) also creeping up to provide support. I like this the best of the lot.

SAI - Now, this is a highly speculative play but I like the intraday action on Friday as well as the positive MACD divergence. If you decide to play it, keep a stop loss below the Friday lows and be sure to respect it!

WTR - Consolidating nicely after the bounce from MA(50). Watch out for new highs.

And in case you missed it, here is a new daily series titled Chart of the Day.

Take care and Good Luck!

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