Trade Ideas: AIG, ROK, MECA, FLO, PARL, AGYS, MSD, GNTX
Another 4-minute spread on the software picks. Some reasonable plays to review.
AIG: Bounced off the 50-day MA, currently working a challenge of the 52-week high. Expect supply to be a concern in the $72-75 range but this has come a long way from it early lows of $49.56.
ROK: Second day of gains on light volume. Decent ascent from $50. Ride the trend. Weekly chart looks to be shaping a cup-and-handle pattern. Projected target of $79.
MECA: Solid support at 50-day MA. Good value at current prices as it works a 2-month base. A push over $10 will have this trading at new 5-year highs, as it stands now it is close to making new 3-year highs. Best of the bunch
FLO: Sold off hard in early November. Bounced to fill the gap and currently trades in a well defined handle at gap resistance. Looks ready to push higher but keep stops on a loss of $27.
PARL: Weekly chart shows potential for a rounding top having worked its way from $2.25 lows in 2003 (pre-split???). Current consolidation has support at $28 and this is where stops should go. Buy break of $32.
AGYS: Shaping a bullish ascending triangle on the weekly chart. Daily chart shows support at $17.50 with resistance at $19.50. Break of $19.50 projects a target of $25.
MSD: Thinly traded and no consolidation to speak of to work support. Strong money flow is a bonus (although this has started to decline off its highs). Steady advance in both daily and weekly charts. Ride the trend.
GNTX: Nice hammer confirming support at $19.00. Resistance at $20. Weekly chart shows the start of a right-hand-side base with resistance at $23. One to accumulate with a 5% risk.
If you would like to try the software yourself, follow this link for a free 7-day trial
AIG: Bounced off the 50-day MA, currently working a challenge of the 52-week high. Expect supply to be a concern in the $72-75 range but this has come a long way from it early lows of $49.56.
ROK: Second day of gains on light volume. Decent ascent from $50. Ride the trend. Weekly chart looks to be shaping a cup-and-handle pattern. Projected target of $79.
MECA: Solid support at 50-day MA. Good value at current prices as it works a 2-month base. A push over $10 will have this trading at new 5-year highs, as it stands now it is close to making new 3-year highs. Best of the bunch
FLO: Sold off hard in early November. Bounced to fill the gap and currently trades in a well defined handle at gap resistance. Looks ready to push higher but keep stops on a loss of $27.
PARL: Weekly chart shows potential for a rounding top having worked its way from $2.25 lows in 2003 (pre-split???). Current consolidation has support at $28 and this is where stops should go. Buy break of $32.
AGYS: Shaping a bullish ascending triangle on the weekly chart. Daily chart shows support at $17.50 with resistance at $19.50. Break of $19.50 projects a target of $25.
MSD: Thinly traded and no consolidation to speak of to work support. Strong money flow is a bonus (although this has started to decline off its highs). Steady advance in both daily and weekly charts. Ride the trend.
GNTX: Nice hammer confirming support at $19.00. Resistance at $20. Weekly chart shows the start of a right-hand-side base with resistance at $23. One to accumulate with a 5% risk.
If you would like to try the software yourself, follow this link for a free 7-day trial
