Trade Ideas: IOTN, CSCO, SWFT, VFC, BLI, WWE, GIB, AATI
Today's selection took all of 4 minutes to appear on the scans, better stuff from the markets.
IOTN: Buy break of $10.25, stop on a loss of $9.75. This has been one, long, consolidation, dating back to early 2004 after its jump from $0.50. Tightly coiled and ready to move. The point-n-figure target of $20.50 looks to be the best bet
CSCO: Weekly chart is of greater relevance. Watch for break of $20. Point-n-figure chart is holding to a bearish target of $13.50. Resistance at $29 looks to best place to sell.
SWFT: Bounding around $22-24. Golden cross of 50-day/200-day MA favors the bulls. Resistance at $26. Projected target of $36. Run stops on a loss of $22.
VFC: Pushed through the 200-day MA and 50-day MA on heavy volume. Can it hold a break of $58 into the close (prior resistance). Looks a little rich here when stops go on a loss of $54.65. At $56 it will have merits.
BLI: Bounced off $13. Nice support here although the initial test of $14 resistance failed. Point-n-figure target of $20 not unfeasible, but there is a band of resistance between $14 and $15.50 to chew through first.
WWE: A nice handle here after December's big gains hold. The 50-day MA could act as a catalyst for a bounce and is a good place to locate stops (loss of $14.50). Resistance at $20 is a target; point-n-figure target of $27 for the optimists amongst you.
GIB: Buy break of $8.20. Coiling into what should lead to a breakout. Measured move target of $11. Unfortunately, relatively illiquid.
AATI: Although this has climbed above the 50-day MA, the correction off $15.50 resistance is a concern. Best to wait for a volume punch past this resistance and look for a move to $20. Point-n-figure target of $25.50 if upside volume can remain strong.
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IOTN: Buy break of $10.25, stop on a loss of $9.75. This has been one, long, consolidation, dating back to early 2004 after its jump from $0.50. Tightly coiled and ready to move. The point-n-figure target of $20.50 looks to be the best bet
CSCO: Weekly chart is of greater relevance. Watch for break of $20. Point-n-figure chart is holding to a bearish target of $13.50. Resistance at $29 looks to best place to sell.
SWFT: Bounding around $22-24. Golden cross of 50-day/200-day MA favors the bulls. Resistance at $26. Projected target of $36. Run stops on a loss of $22.
VFC: Pushed through the 200-day MA and 50-day MA on heavy volume. Can it hold a break of $58 into the close (prior resistance). Looks a little rich here when stops go on a loss of $54.65. At $56 it will have merits.
BLI: Bounced off $13. Nice support here although the initial test of $14 resistance failed. Point-n-figure target of $20 not unfeasible, but there is a band of resistance between $14 and $15.50 to chew through first.
WWE: A nice handle here after December's big gains hold. The 50-day MA could act as a catalyst for a bounce and is a good place to locate stops (loss of $14.50). Resistance at $20 is a target; point-n-figure target of $27 for the optimists amongst you.
GIB: Buy break of $8.20. Coiling into what should lead to a breakout. Measured move target of $11. Unfortunately, relatively illiquid.
AATI: Although this has climbed above the 50-day MA, the correction off $15.50 resistance is a concern. Best to wait for a volume punch past this resistance and look for a move to $20. Point-n-figure target of $25.50 if upside volume can remain strong.
If you would like to try the full version of the software yourself, follow this link for a free 7-day trial.
