Sunday, March 20, 2011

Long and short setups - Part 2

Here are some more setups I like heading into next week. Like I said in the last post, the markets are currently still run my news rather than technicals, so I am posting both long and short setups to be prepared for any eventuality.
ELY - Weak bounce after a big move down. Resistance at 7-7.15 and support at 6.60. A short at test of resistance or break of 6.60.

GES - Another short play. MA(200) and gap resistance should be tough to break. Watch out for new lows.

HOS - Watch out for break of 30 with volume. MA(20) providing nice support.

KBR - Similar to last chart. Watch out for break of 36.

PAG - A short on break of MA(50).

PNM - Like it as a long here with a stop below MA(20).

RES - A cup and handle pattern. Watch out for break of 22.

Here are some more plays for next week.

Take care and good luck!

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