Trade Ideas: ZRAN, DV, CAV, ETP, GAS, BTU, DIOD, CEDC
My new consolidation scan only turned up two candidates: ZRAN, DV. The first, you will see, is a bust (the scan goes on prior day's data - so today's big sell off is would not be detected by the scan). The second, DV, has some merits - particularly as price is sitting right on the 20-day MA. The remaining six picks are from my original Trade-Ideas scan, which has performed very well to-date.
ZRAN: Down big on the day, and not a recommendation at this stage. 50-day MA may provide some support - but I wouldn't bet on it. This scan still needs tinkering. Weekly chart was looking good, still time for it to recover - but the gap will create suppy issues on any attempt to break $21.
DV: The same scan as used to pick ZRAN, but a much nicer chart. Low volume consolidation which has allowed the 20-day MA to rise to greet it. Low risk with a stop 10 cents below today's low. Look for a $4 move (short term). Looks to be a preperation for a break of $24 (see weekly chart) - in which case it could move $6-8.
CAV: Nice handle after early February buying. Run a stop on a loss of $7 lows. Cautious buyers can wait for break of $7.25 on a closing basis. Look for a $1 move. Lacks volume, but surge from $5-8 has held the upper part of this range; bullish.
ETP: Likely to run into resistance around $37.15. Decent bounce off the 50-day MA, but the last four days of gains need to consolidate before this can make a challenge on $38. One to watch. Extended weekly chart - near the end of its run.
GAS: Followed Friday's gains with a more modest advance. Resistance to kick in around $43. Convergence of 20-day, and 50-day MA should give the stock a boost. Stops on a loss of $41, look for a $1-2 gain short term. Weekly chart has shown a steady advance, which should have legs. Investor quality. 4.5% dividend yield is a bonus.
BTU: Similar to ETP's chart. Watch for resistance at $105. 20-day MA perhaps best entry price if you can get it. Safest stop looks to be on a loss of $90. Extended run - vulnerable long term chart.
DIOD: Working through a sideways consolidation. 20-day MA is acting as support. Stops on a loss of $35.75. Excellent advance on the weekly chart, with ever increasing buying volume. Long term merits
CEDC: Cautious buy on a break of $42. Stock is working on a handle between $40.50 - $42. Stops on a loss of $40.50. 20-day MA looks set to cross above the 50-day MA; this could be the cue to drive the break of $42. Weekly chart shows a larger consolidation of range $37.50 - $44.50. Sell resistance ($44.50).
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
ZRAN: Down big on the day, and not a recommendation at this stage. 50-day MA may provide some support - but I wouldn't bet on it. This scan still needs tinkering. Weekly chart was looking good, still time for it to recover - but the gap will create suppy issues on any attempt to break $21.
DV: The same scan as used to pick ZRAN, but a much nicer chart. Low volume consolidation which has allowed the 20-day MA to rise to greet it. Low risk with a stop 10 cents below today's low. Look for a $4 move (short term). Looks to be a preperation for a break of $24 (see weekly chart) - in which case it could move $6-8.
CAV: Nice handle after early February buying. Run a stop on a loss of $7 lows. Cautious buyers can wait for break of $7.25 on a closing basis. Look for a $1 move. Lacks volume, but surge from $5-8 has held the upper part of this range; bullish.
ETP: Likely to run into resistance around $37.15. Decent bounce off the 50-day MA, but the last four days of gains need to consolidate before this can make a challenge on $38. One to watch. Extended weekly chart - near the end of its run.
GAS: Followed Friday's gains with a more modest advance. Resistance to kick in around $43. Convergence of 20-day, and 50-day MA should give the stock a boost. Stops on a loss of $41, look for a $1-2 gain short term. Weekly chart has shown a steady advance, which should have legs. Investor quality. 4.5% dividend yield is a bonus.
BTU: Similar to ETP's chart. Watch for resistance at $105. 20-day MA perhaps best entry price if you can get it. Safest stop looks to be on a loss of $90. Extended run - vulnerable long term chart.
DIOD: Working through a sideways consolidation. 20-day MA is acting as support. Stops on a loss of $35.75. Excellent advance on the weekly chart, with ever increasing buying volume. Long term merits
CEDC: Cautious buy on a break of $42. Stock is working on a handle between $40.50 - $42. Stops on a loss of $40.50. 20-day MA looks set to cross above the 50-day MA; this could be the cue to drive the break of $42. Weekly chart shows a larger consolidation of range $37.50 - $44.50. Sell resistance ($44.50).
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
