Thursday, September 23, 2010

Watchlist - Autoparts

With Auto Parts being one of the best performing industries today, I thought it might be useful to have a look at the stocks in this industry, and sure enough I found some charts that I like here. The important levels are marked on the charts.

SMP - Has consolidated nicely the last couple of days. Watch out for the break of the upper trendline. A stop below today's lows should do the trick.

TWI - Two consecutive doji days after a big move up. Watch out for a break of 13.11.

CVGI - This is the one I like best of the lot. Trying to break out of a multi month flag after a move from 4.50 to 13.50.

ARGN - Calling bottoms is not my trading style but for all of you who like to play them, this stock seems to have found support at MA(200) after a move down.

Check out my views on today's market action and today's Chart of the Day.

Take care and good luck!

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