Sunday, May 19, 2013

Watchlist for next week

Following are a few stocks that I like for next week. Are the markets extended? Yes. But what's new that? Can the markets correct at a moment's notice. Yes. But that's what the stops are for.

BYI - Gapped up big, consolidated on low volume, tested gap support, waited for MA(20) to come, bounced. End of story.

CSIQ - Solar stocks have seen some momentum in the last couple of weeks. Looks set for a breakout above 8.

SOHU - Has gone parabolic in the last couple of weeks or so. Would like to see some consolidation in this one. Wouldn't mind waiting for it to set up.

HIMX - Been consolidating the last couple of days after a breakout. Volume pattern for the last three months looks good.

MGA - Tested support successfully after gapping up. Watch out for new highs next week.

MXL - Tested support successfully on Friday. With volume coming in, could make a run for 7.20 next week.

TSO - Broke out on very heavy volume on Friday. The heavy volume suggests that there could be a lot more steam left in this move.

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Take care and good luck!

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