Trade Ideas: ROL, SMSC, ASTSF, AVAN, HAIN, UFPI, IEX, ISIS
An increase in buying momentum from yesterday; today's picks took 3 minutes to compile by the Trade-Ideas software.
ROL: Shaping the right-hand-side of a 7-month base. The 50-day MA lurks close to $20.50, a good place to put stops. Buy break of $21.50. A move to $22 triggers a double top breakout on the point-n-figure chart with a target of $25.50
SMSC: Developing a broad consolidation triangle (about half-way through at this stage). Hugging the 50-day MA at $30.88. Weekly chart will mark a breakout on a move to $34, $35 will be necessary for the point-n-figure chart. Look for rally to $50.
ASTSF: Weekly chart shows a large base spanning nearly 2 years. $8 is the line in the sand for bulls, a break of which should see the start of a right-hand-base to challenge $16.50. The point-n-figure chart holds a price target of $14.75. If buying here looking to run stops on a loss of $7.
AVAN: A steady sub-$5 performer. Looks to have found support at $1.90. Resistance at $2.10. Weekly chart shows shift to the bulls in mid-October after an 18-month decline. Plenty of work to do if this is to return to 2001 highs ($8.50). Play this for a move to $4
HAIN: Interesting 'V'-like bottom at $19.78 (a smidge above the 200-day MA). Breakout buyers need to wait for a move above $22.50. Healthy point-n-figure chart with a November 3rd Triple top breakout and a price target of $28.50
UFPI: Trying to regain the 50-day MA. Scrappy action over the last 6-months with key resistance at $61. Weekly chart looks better with last May's test of the 50-day MA probably the best indicator for bulls as to when to buy.
IEX: Large triangle has broken upside following today's push over $44. Look for move to $51. Stops go around $41.50. Point-n-figuer chart will mark a breakout at $45 and holds a target of $67.50.
ISIS: Similar to HAIN in its 'V' bottom (except this one covers 6-months and dipped just below the 200-day MA). Breakout buyers need wait for a move above $5.60. Stops on a loss of $5.20. Look to a $7 price target. Resistance to be found at $6.50 and $9.50.
ROL: Shaping the right-hand-side of a 7-month base. The 50-day MA lurks close to $20.50, a good place to put stops. Buy break of $21.50. A move to $22 triggers a double top breakout on the point-n-figure chart with a target of $25.50
SMSC: Developing a broad consolidation triangle (about half-way through at this stage). Hugging the 50-day MA at $30.88. Weekly chart will mark a breakout on a move to $34, $35 will be necessary for the point-n-figure chart. Look for rally to $50.
ASTSF: Weekly chart shows a large base spanning nearly 2 years. $8 is the line in the sand for bulls, a break of which should see the start of a right-hand-base to challenge $16.50. The point-n-figure chart holds a price target of $14.75. If buying here looking to run stops on a loss of $7.
AVAN: A steady sub-$5 performer. Looks to have found support at $1.90. Resistance at $2.10. Weekly chart shows shift to the bulls in mid-October after an 18-month decline. Plenty of work to do if this is to return to 2001 highs ($8.50). Play this for a move to $4
HAIN: Interesting 'V'-like bottom at $19.78 (a smidge above the 200-day MA). Breakout buyers need to wait for a move above $22.50. Healthy point-n-figure chart with a November 3rd Triple top breakout and a price target of $28.50
UFPI: Trying to regain the 50-day MA. Scrappy action over the last 6-months with key resistance at $61. Weekly chart looks better with last May's test of the 50-day MA probably the best indicator for bulls as to when to buy.
IEX: Large triangle has broken upside following today's push over $44. Look for move to $51. Stops go around $41.50. Point-n-figuer chart will mark a breakout at $45 and holds a target of $67.50.
ISIS: Similar to HAIN in its 'V' bottom (except this one covers 6-months and dipped just below the 200-day MA). Breakout buyers need wait for a move above $5.60. Stops on a loss of $5.20. Look to a $7 price target. Resistance to be found at $6.50 and $9.50.
