Here are some stocks that popped up in my scans tonight. Three long and one short setup. All these stocks had relatively high volume today and find themselves at or just below important levels.
MGIC - The best of the lot. Nice bullish volume pattern. Watch out for a break of today's highs.
CNO - Nice move off MA(50) on this one today. Wait for a break of MA(20) to see if this move is for real.
BORN - Nice move and a nice close. Forming a bullish volume pattern in the last 10 days or so. Close above an important resistance level today.
PBCT - Finally, the short play. Tried hard for some kind of reversal after a breakdown last week but failed at MA(50). Poor close today resulting in a doji. Looks ripe for more downside.
Take care and good luck!
3 comments:
Hey im considering shorting CSTR, i've been watching it and it looks like its developing a small descending triangle, just wondering what your opinion was short term for the chart. Thanks.
Looks like it wants to test the support at 38.28. A short at new lows or a partial short position here with add on new lows.
I still think, FWIW, that we will have another leg down. But I still let the charts guide me. Still , holding onto some TZA as a hedge.
Thanks for the good work.
Post a Comment