Trade Ideas: AUO, GW, NVG, BEZ, INLD, EBF, WGII, BHS
I should be back to the mid-market posting next week (car struggles have kept my sidelined for the past couple of days). This is Friday's end-of-market picks from the Trade-Ideas software.
AUO: Holding combined support of the 50- and 200-day MA. Pressured by $15 resistance (which had been support during the summer of 2005). Next resistance at $17 and then there should be room for a run to $24. One to watch
GW: Last few days have seen some above average buying but the stock remains range bound between $7 and $8.50. The 200-day MA has risen to meet the trading range and this may support a push above resistance.
NVG: Solid weekly chart with an important break of $14.50 resistance on improving money flow. A move to $15.50 will put this at multi-year highs. Looks primed for a run.
BEZ: Another solid base performer. The move above $26.75 looks significant and trading action over the last 5-weeks has the making of a nice 'handle' to the year long base. Strong merits.
INLD: This stock has scarred me in the past. The rally to $2.25 had tested support at the 50-day MA and looks to be holding. I would like to see more upside volume but the trend is your friend.
EBF: A scrappy rally, in part caused by its illiquidty. In the context of the weekly chart there was an end-of-week break of $18 resistance with room to test $21 resistance and a target projection of $31 - but you may want to keep a mental stop.
WGII: The break of $54 is significant and in the short term should run to $61. Measures as an ascending triple top breakout on the point-n-figure chart with a price target of $62. A good stock for the more cautious trader.
BHS: It may be hugging its 50-day MA but this has traded flat for the past 6-months and its in a sector which looks vulnerable for 2006. The 200-day MA did act as support in December and the stock is 'bullish' - just keep stops near $47.
AUO: Holding combined support of the 50- and 200-day MA. Pressured by $15 resistance (which had been support during the summer of 2005). Next resistance at $17 and then there should be room for a run to $24. One to watch
GW: Last few days have seen some above average buying but the stock remains range bound between $7 and $8.50. The 200-day MA has risen to meet the trading range and this may support a push above resistance.
NVG: Solid weekly chart with an important break of $14.50 resistance on improving money flow. A move to $15.50 will put this at multi-year highs. Looks primed for a run.
BEZ: Another solid base performer. The move above $26.75 looks significant and trading action over the last 5-weeks has the making of a nice 'handle' to the year long base. Strong merits.
INLD: This stock has scarred me in the past. The rally to $2.25 had tested support at the 50-day MA and looks to be holding. I would like to see more upside volume but the trend is your friend.
EBF: A scrappy rally, in part caused by its illiquidty. In the context of the weekly chart there was an end-of-week break of $18 resistance with room to test $21 resistance and a target projection of $31 - but you may want to keep a mental stop.
WGII: The break of $54 is significant and in the short term should run to $61. Measures as an ascending triple top breakout on the point-n-figure chart with a price target of $62. A good stock for the more cautious trader.
BHS: It may be hugging its 50-day MA but this has traded flat for the past 6-months and its in a sector which looks vulnerable for 2006. The 200-day MA did act as support in December and the stock is 'bullish' - just keep stops near $47.
