Tuesday, November 9, 2010

Chart of the Day

I know its supposed to be Chart of the Day but let's make it Chart(s) of the Day just for today as there are two setups I really like heading into tomorrow. The first one is CIT. Down days are helpful in finding stocks that performed well inspite of the trend of the overall markets. The fact that is a financial stock makes its performance today even more impressive. The stock has been consolidating nicely since a big move up on its earnings. Notice the bullish volume pattern. I like it on a break of 44.10.

The second one is MCHP. Another stock that has been consolidating nicely on lower volume since a big move up.

SPN, yesterday's Chart of the Day, performed quite nicely today and is also looking good here.

Take care and good luck!

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