Tuesday, July 11, 2006

Trade Ideas: ICF, REG, CGI, MET, SKT, AGO, SAFC, CGX

It may have been a mixed day for the markets but the Trade Ideas scan was able to come up with some possibilities. The two featuring the most into the day's close were AGO and ICF, the former featured four and the latter three times.

In ICF's case there is a four month base in development with resistance at $87 and support at $83. The projected target is $97 and stops can go on a loss of $84. The point-n-figure chart holds to a double top breakout from July 3rd with a price target of $99.

AGO has stalled at key $26 resistance from Feburary and March. Supply again crops up at $27. One to watch - wait for volume break of $27 before getting excited.

One of the better charts is CGI. Breakout buyers should wait for a move to $31.50, but there is a solid 17-month base taking shape with key resistance at $34. A move to $32 will trigger a breakout on the point-n-figure chart and negate the current (bearish) target of $20.





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