Trade Ideas: GTK, EMC, XEC, SWX, NKE, LNG, RTU, OPNT
Only the first stock on the list, GTK, featured on the Channel Scan. The remainder were drawn from the Base Scan.
GTK: Hugging the 50-day MA. Watch for break of $33.50. Point-n-figure target of $57 looks interesting.
EMC: Sneaking a move over the 200-day MA (but after a 'Death cross' in the 50-day/200-day MAs. Short term move to watch for is a test of $14.50 resistance. Stops on a loss of $13.50
XEC: Bounce of $40 looks to be holding at the 50-day MA. Next advance should be to test $48 resistance. Stops on a loss of the day's lows
SWX: Consolidated yesterday's gains, holding the upper range from yesterday's trading - bullish. Breakout buyers will be waiting for a close over $28 before acting. Stops on a loss of $27.50
NKE: Approaching $88 resistance. Broad, symmetrical triangle on the weekly chart. Projected move is for $108. Point-n-figure target of $100 is a logical intermediate term target (3 weeks-6 months).
LNG: Flat(ish), rounding bottom, covering 2 1/2 months, has worked itself into a small handle. Look to buy a closing break of $41.60. $47 price target - but this is part of a 16-month ascending triangle (which has a target of $55).
RTU: Has already moved out of its base. It will be important to hold a close over $18.90. A trend rider.
OPNT: Volume action in afternoon trading. Looking to complete a sideways consolidation from the last couple of weeks. Weekly chart shows a lengthy sideways consolidation following a fall from $22 in 2004. Investors merits.
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
GTK EMC XEC SWX NKE LNG RTU OPNT
GTK: Hugging the 50-day MA. Watch for break of $33.50. Point-n-figure target of $57 looks interesting.
EMC: Sneaking a move over the 200-day MA (but after a 'Death cross' in the 50-day/200-day MAs. Short term move to watch for is a test of $14.50 resistance. Stops on a loss of $13.50
XEC: Bounce of $40 looks to be holding at the 50-day MA. Next advance should be to test $48 resistance. Stops on a loss of the day's lows
SWX: Consolidated yesterday's gains, holding the upper range from yesterday's trading - bullish. Breakout buyers will be waiting for a close over $28 before acting. Stops on a loss of $27.50
NKE: Approaching $88 resistance. Broad, symmetrical triangle on the weekly chart. Projected move is for $108. Point-n-figure target of $100 is a logical intermediate term target (3 weeks-6 months).
LNG: Flat(ish), rounding bottom, covering 2 1/2 months, has worked itself into a small handle. Look to buy a closing break of $41.60. $47 price target - but this is part of a 16-month ascending triangle (which has a target of $55).
RTU: Has already moved out of its base. It will be important to hold a close over $18.90. A trend rider.
OPNT: Volume action in afternoon trading. Looking to complete a sideways consolidation from the last couple of weeks. Weekly chart shows a lengthy sideways consolidation following a fall from $22 in 2004. Investors merits.
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
GTK EMC XEC SWX NKE LNG RTU OPNT
