Two to watch out for

Here are a couple of names that I will be keeping an eye on tomorrow.

BCRX - Has been consolidating for the last couple of weeks now. 6.83 remains the level to watch out for. Volume remains the key.

 ZHNE - Nice move on strong volume today. Watch out for the 2.99 level tomorrow.

I hope some of you readers caught the move in CLDX and JASO today, both put up in yesterday's watchlist. CLDX was up over 3% and JASO over 6%. ITMN and RPTP are still setting up nicely while SREV broke through the important 13 level and looks good for more.

Take care and good luck!

 

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Watchlist for next week

Here are a few stocks that I will be keeping an eye on next week. The important levels are marked on the charts. Click on them for larger view.

Take care and good luck!

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The week ahead

The ball is in the bear's court. It was in June that they last had a similar opportunity to take control of the markets. They were unsuccessful. But there is a difference this time. In June, the markets broke through the MA(50), quickly entered entered oversold territory and bounced right back. In contrast, this time the markets broke through the MA(50), did a quick head fake above the MA(50), only to move right back below MA(50) and did a good job of consolidating nearly the weekly lows last week. In short, its all wonderfully set up for the bears here. Now, its up to the bears to take step up and take the advantage. Will they do it?

The important support and resistance levels are marked on the S&P chart below.

Take care and good luck!

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