Trade Ideas: AXE, WMG, PERS, BXS, APD, NCR, ISSX, CBK
Today's selection popped up on the scan software in a couple of minutes.
AXE: Found support at the 20-day MA as the low volume consolidation completed. A more protracted base is needed to consolidate gains from $28. The trend is your friend, and at current prices it has decent long side possibilities
WMG: Trading inside a 5-week base. Real move should occur on a break of $21.50. Projected target is $26. Stops go on a loss of $20.
PERS: Frequent scan regular. The initial position was stopped out on the broad, one day-spread, but the stock is back to pressuring $15.15 resistance. Will today be the day?
BXS: 50-day has acted as good support over the last couple of weeks. $24 remains the price to beat (it wasn't to long ago when it was $23.50). Slow and steady wins the race and this looks to be one of those stocks. For the week chart, $24.50 is the price to beat.
APD: The 'Golden Cross' of the 50-day MA/200-day MA was the impetus to set off the current rally from $58. Very close to breaking $64 resistance which would complete an 11-month base. Projected target price is $76. Stops on loss of $60.
NCR: The morning gap down has reversed in to a small gain on the day. It will be important for these gains to hold into the weekend if bears are not to get something out of the day. Patient buyers should wait for a break of $39 before jumping aboard. Another stock in an 11-month base.
ISSX: 40-week MA is an important fight for the stock, as the daily chart shows a 'Death cross' of the 50-day/200-day MA. The stock had closed below the 40-week MA in late December and this week has been its first venture above this moving average. Watch for a potential bullish ascending triangle (on weekly chart), which would put a breakout at around $25.
CBK: Coming out of a small bullish flag. It could stall at $21 weekly resistance, but beyond that the stock should have room to move to $30 resistance. Stops on a loss of $17.75.
AXE: Found support at the 20-day MA as the low volume consolidation completed. A more protracted base is needed to consolidate gains from $28. The trend is your friend, and at current prices it has decent long side possibilities
WMG: Trading inside a 5-week base. Real move should occur on a break of $21.50. Projected target is $26. Stops go on a loss of $20.
PERS: Frequent scan regular. The initial position was stopped out on the broad, one day-spread, but the stock is back to pressuring $15.15 resistance. Will today be the day?
BXS: 50-day has acted as good support over the last couple of weeks. $24 remains the price to beat (it wasn't to long ago when it was $23.50). Slow and steady wins the race and this looks to be one of those stocks. For the week chart, $24.50 is the price to beat.
APD: The 'Golden Cross' of the 50-day MA/200-day MA was the impetus to set off the current rally from $58. Very close to breaking $64 resistance which would complete an 11-month base. Projected target price is $76. Stops on loss of $60.
NCR: The morning gap down has reversed in to a small gain on the day. It will be important for these gains to hold into the weekend if bears are not to get something out of the day. Patient buyers should wait for a break of $39 before jumping aboard. Another stock in an 11-month base.
ISSX: 40-week MA is an important fight for the stock, as the daily chart shows a 'Death cross' of the 50-day/200-day MA. The stock had closed below the 40-week MA in late December and this week has been its first venture above this moving average. Watch for a potential bullish ascending triangle (on weekly chart), which would put a breakout at around $25.
CBK: Coming out of a small bullish flag. It could stall at $21 weekly resistance, but beyond that the stock should have room to move to $30 resistance. Stops on a loss of $17.75.
