Trade Ideas: PNC, MW, CFK, ACAD, HQH, POOL, HMSY, FRG
Today's selection took 15 minutes for the software to collate so there has been a slow down in the rate at which Buy candidates have appeared over the last couple of days.
PNC: Nice dummy entry with a stop on a loss of today's lows. Last week's gap is holding which is good news for bulls. Short term traders can look for a test of $68.25. Ride the trend.
MW: Found support at the 200-day MA. Watch for a challenge of $38 and a likely 'Golden Cross' of the 50-day MA/200-day MA. Point-n-figure target of $49 looks reasonable
CFK: Still working through a $13-16 base. Relatively illiquid but with the 50-day MA approaching it may find some impetus to bounce as it did in October 2005.
ACAD: Moving up strong in the last half hour. Watch for close over $11.00. Real action will come above $11.50. Watch this intraday and look to buy pullback; $10.56 would be an ideal entry
HQH: Building towards a 5-month base breakout as part of a larger 2-year base with resistance at $20. Projected target of $25 but if it can get past $20 it should go on a nice run. Stock of the day.
POOL: Trading over its 50-d MA after a positive test of the 200-d MA earlier in January. The rate of ascent has slowed since the start of this advance in 2003. Point-n-figure target of $47 looks about right as this is a mature rally.
HMSY: Relatively illiquid and scrappy intraday action over the last few months will mean a break of $8.10 will be needed to set this one alight. One to watch but needs more volume.
FRG: Close to breaking declining resistance from December (I would count a move to $3.40 as a breakout). Should challenge $3.90 and from there it will depend on the volume to go with it. Weekly chart is interestiig; a move above $4 should see a nice run as buying volume steadily increases.
PNC: Nice dummy entry with a stop on a loss of today's lows. Last week's gap is holding which is good news for bulls. Short term traders can look for a test of $68.25. Ride the trend.
MW: Found support at the 200-day MA. Watch for a challenge of $38 and a likely 'Golden Cross' of the 50-day MA/200-day MA. Point-n-figure target of $49 looks reasonable
CFK: Still working through a $13-16 base. Relatively illiquid but with the 50-day MA approaching it may find some impetus to bounce as it did in October 2005.
ACAD: Moving up strong in the last half hour. Watch for close over $11.00. Real action will come above $11.50. Watch this intraday and look to buy pullback; $10.56 would be an ideal entry
HQH: Building towards a 5-month base breakout as part of a larger 2-year base with resistance at $20. Projected target of $25 but if it can get past $20 it should go on a nice run. Stock of the day.
POOL: Trading over its 50-d MA after a positive test of the 200-d MA earlier in January. The rate of ascent has slowed since the start of this advance in 2003. Point-n-figure target of $47 looks about right as this is a mature rally.
HMSY: Relatively illiquid and scrappy intraday action over the last few months will mean a break of $8.10 will be needed to set this one alight. One to watch but needs more volume.
FRG: Close to breaking declining resistance from December (I would count a move to $3.40 as a breakout). Should challenge $3.90 and from there it will depend on the volume to go with it. Weekly chart is interestiig; a move above $4 should see a nice run as buying volume steadily increases.
