Trade Ideas: AIN. LIFC, CALD, OMCL, DCO, NVR, VARI, MROI
Interesting day for the markets with the DOW breaking broadening wedge resistance (again) as the Tech markets churned. Bulls need to keep an eye on volatility as it sits at historical support. Where is the fear?
Today's Trade Ideas selection covered 3 minutes of end-of-day data. Each stock appeared only once over this period.
AIN: Bullish three white soldiers. Best to wait for retracement to open of second white candlestick ($37). Stops on loss of $36. Key resistance at $38. Point-n-figure target of $61.
LIFC: Remains range bound. Buy break of $22.75. Resistance at $24. Stops on loss of $21. Look for move to $35. Weekly chart shows price support at 40-week average with a nice handle around $22.
CALD: Not to much to get excited about here. Also range bound. $4.80 looks to be key resistance. A push past $5.50 would set up a run to $14.50 but this may not come any time soon.
OMCL: Advancing block series of candlesticks (weak bullish). Weekly chart looks better with a bouce off the 40-week average. Plenty of resistance around $14. Point-n-figure chart aiming for a more optimistic $23.
DCO: Flat action over the last few days. Thinly traded. One to watch, but it will be tough to sell a position.
NVR: Popped over $800 but with larger resistance at $846. This is a fight for the 50-day MA. Point-n-figure target of $945 can't be ruled out, but there is plenty of work still to do to break this congestion.
VARI: Recent upside followed a positive test of breakout gap support. Resistance at $42 the key barrier for a run to test $46. Point-n-figure target of $55 looks well within itself. Stops on loss of $38.
MROI: Only stock to break resistance ($16). Relatively thinly traded. Resistance at $17 to watch. Stops on loss of $15. Point-n-figure target of $20 looks conservative; 2002 resistance at $29 should be a more probable test.
Trade Ideas
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
Today's Trade Ideas selection covered 3 minutes of end-of-day data. Each stock appeared only once over this period.
AIN: Bullish three white soldiers. Best to wait for retracement to open of second white candlestick ($37). Stops on loss of $36. Key resistance at $38. Point-n-figure target of $61.
LIFC: Remains range bound. Buy break of $22.75. Resistance at $24. Stops on loss of $21. Look for move to $35. Weekly chart shows price support at 40-week average with a nice handle around $22.
CALD: Not to much to get excited about here. Also range bound. $4.80 looks to be key resistance. A push past $5.50 would set up a run to $14.50 but this may not come any time soon.
OMCL: Advancing block series of candlesticks (weak bullish). Weekly chart looks better with a bouce off the 40-week average. Plenty of resistance around $14. Point-n-figure chart aiming for a more optimistic $23.
DCO: Flat action over the last few days. Thinly traded. One to watch, but it will be tough to sell a position.
NVR: Popped over $800 but with larger resistance at $846. This is a fight for the 50-day MA. Point-n-figure target of $945 can't be ruled out, but there is plenty of work still to do to break this congestion.
VARI: Recent upside followed a positive test of breakout gap support. Resistance at $42 the key barrier for a run to test $46. Point-n-figure target of $55 looks well within itself. Stops on loss of $38.
MROI: Only stock to break resistance ($16). Relatively thinly traded. Resistance at $17 to watch. Stops on loss of $15. Point-n-figure target of $20 looks conservative; 2002 resistance at $29 should be a more probable test.
Trade Ideas
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
