After a failed head and shoulders pattern, the broader markets broke out and sent our bull picks soaring while deflating our potential shorts. The tech sector remains the strongest and we will continue to watch tech names like the infamous AAPL which has broken out above its prior highs. Keep in mind we are still in the midst of earnings season.
Sideways market action yields less momentum in individual stocks. We have not seen very many stocks giving quality entry signals due to this summer slowdown and decrease in volume. Earnings season is here, kicked off by aluminum manufacture Alcoa (AA) which reported its 3rd consecutive quarterly loss. Regardless, these are some of the stocks we are watching in the week ahead. LongICUI – Strong trend, waiting consolidation of the forming bull flag pattern.MMSI – Awaiting retest of last week’s breakout,…
Most of last week’s stocks to watch pulled back nicely to support forming decent entry points, with the exception of RDY which took off and hasn’t looked back. The tech plays of GOOG, AMZN, and AAPL have begun trickling lower along with the NASDAQ. AMZN, while providing a nice 5 point rally, is currently acting relatively weak to the broader market so we will make note and continue watching its price action. It’s important to remember when trading that you…
With the NASDAQ acting as the market leader at the moment, we called for AAPL, AMZN, and GOOG to remain on your radar in week 25. The three broke above their 20-Day Moving Averages last week and continued higher. If you didn’t take the trade, ask yourself why not? Was it because you we’re uncertain of which way the broader market was headed? Did you not have a hedge against your long? Was there something about the stock that was…
Continuing our focus on the tech sector as we did last week, GOOG, AMZN, and AAPL are beginning to look rather attracting and are show signs of potential setups. We continue to scan for stocks making new 52-wk highs and 52-wk lows each evening at the close.As trading slows for the summer this week’s economic announcements should set the tone for the months to come. Most of the market’s “big hitters” have packed up their things and are headed to…
Watch for a move over last week’s consolidation level on the S&P should send stocks higher. If a breakdown is to occur we would expect to see it happen in one day with heavy selling and high volume. Watch tech stocks like GOOG, AMZN, and AAPL to lead the market higher.
Stocks to watch this week are… ARST, MANT, MGLN, OSIP, NAT, NS, PEGA, QSII, RVBD
Stay tuned for future updates and the return of weekly chart analysis and soon to come…video watchlists! Until then, here’s the idea’s for this week. There were very few stocks with showing our entry signal so here are a few to keep on your radar and awaiting a good entry point. AAN, ARST, CPN, CPSI, CYOU, HANS, MVSN, ORLY, PTRV, QSII, TECHWeek 18 RecapProfitable:QSII broke out and setting up for yet another entryCPSI broke out nicely Still Waiting:ARST still waiting…