Trade-Ideas: KEY, USG, VMSI, FDC, CYTC, ALKS, KEYS, JBHT
Today's scan took 25 minutes to come up with 8 stocks. Slow times for the market and as I noted in my pre-market notes - there are reasons to be concerned. The current sideways action needs to follow through soon or buyers will drift away and there will be no more support to hold these levels.
Today's 8 picks are:
KEY: Nice morning gap open which cleared November reaction highs and sits a dollar shy of an ascending triple top breakout on the point-n-figure chart (at new all-time highs). Ride the trend in this steady performer.
USG: Working through a 3-month base as it trades just above its 50-day MA. One to accumulate. Strong support at $60. Clear air above $70. Some could argue a test of 200-day MA is needed to ground support - in which case expect sideways trading to continue. Featured on Fallondpicks.com as a Breakout for September 16th 2004 when it traded at $18.80.
VMSI: Still influenced by October's "death cross" but money flow is rising and a reversal of the "death cross" could soon be in the offing. Positive money flow is a bonus as is historical support at the 40-week (200-day) MA.
FDC: $42.50 is strong support and the small handle-on-handle pattern is preparation for a run to $46. A move to $47 would put this at 5-year highs and end a 2 1/2 year consolidation which has bounced between $37 and $46. This looks to be its time.
CYTC: Bounced neatly off the 20-day MA on a positive test of $27.70 support. Can it rebound from here? Weekly chart remains firm. Featured as a Breakout for October 6th 2004, but followed with basing action instead of a continuation of the trend.
ALKS: Supply at $19.00 could still be a concern. A close over $19 by end-of-week would be significant and complete a handle as part of a larger 2-year base. One to watch.
KEYS: Keeps popping up on this scan. Action remains favorable. Last featured on August 19th of this year - but that breakout failed which led to the current consolidation pattern. The subscriber feature for March 28th was more successful.
JBHT: Back on the scan and still performing on its way to test $24 resistance. Break of $24 remains key.
If you would like to try the software yourself, follow this link for a free 7-day trial
Today's 8 picks are:
KEY: Nice morning gap open which cleared November reaction highs and sits a dollar shy of an ascending triple top breakout on the point-n-figure chart (at new all-time highs). Ride the trend in this steady performer.
USG: Working through a 3-month base as it trades just above its 50-day MA. One to accumulate. Strong support at $60. Clear air above $70. Some could argue a test of 200-day MA is needed to ground support - in which case expect sideways trading to continue. Featured on Fallondpicks.com as a Breakout for September 16th 2004 when it traded at $18.80.
VMSI: Still influenced by October's "death cross" but money flow is rising and a reversal of the "death cross" could soon be in the offing. Positive money flow is a bonus as is historical support at the 40-week (200-day) MA.
FDC: $42.50 is strong support and the small handle-on-handle pattern is preparation for a run to $46. A move to $47 would put this at 5-year highs and end a 2 1/2 year consolidation which has bounced between $37 and $46. This looks to be its time.
CYTC: Bounced neatly off the 20-day MA on a positive test of $27.70 support. Can it rebound from here? Weekly chart remains firm. Featured as a Breakout for October 6th 2004, but followed with basing action instead of a continuation of the trend.
ALKS: Supply at $19.00 could still be a concern. A close over $19 by end-of-week would be significant and complete a handle as part of a larger 2-year base. One to watch.
KEYS: Keeps popping up on this scan. Action remains favorable. Last featured on August 19th of this year - but that breakout failed which led to the current consolidation pattern. The subscriber feature for March 28th was more successful.
JBHT: Back on the scan and still performing on its way to test $24 resistance. Break of $24 remains key.
If you would like to try the software yourself, follow this link for a free 7-day trial
