Trade Ideas: BANR, CSC, IMOS, LWSN, TRX, HYB, ETB, LRW
These stocks were taken into the days close, so fills are likely to vary from what is listed here. The software took just under 10 minutes to come up with 8 different stocks.
BANR: Nice end of day hammer to confirm support at $33.20-33.35. Point-n-figure chart holds to a $54 price target as part of a November 3rd double top breakout. Run stops on loss of $33.20.
CSC: Consolidation breakout. Weekly chart shows strong resistance at $58, but heavy buying volume since late October should be able to consume. Projected base target of $74. Point-n-figure target holds to $78.
IMOS: One for watch list given $7.40 resistance could knock the recent bounce off $6.59 lows down a notch or two. An earlier symmetrical triangle on the weekly chart failed to generate a move, as prices passed through its apex (c$7). Short term bulls should look for $9. A break of $5.50 would favor a move down to $3.50.
LWSN: Watch weekly chart action. A weekly close over $8 would be significant and favor a follow on move to around $11.50. Point-n-figure chart holds to a double top breakout from October 17th and a price target of $14.50. Stops go on a loss of $7.25.
TRX: Hugging the 20-day MA as part of a solid uptrend. Insufficient data to draw much of a conclusion as to where it might go. Stops can go on loss of 20-day or 50-day MA.
HYB: Low priced stock and thinly traded (=easy to manipulate and tough to sell). $2 had been strong resistance, but this price now looks to be decent support. Watch for a run to $3.
ETB: Weekly chart shows a perfect 'V'-bottom. Move past $19.50 looks significant. Projected target is in the $23-$24 range, but with little overhead resistance and a relatively thinly traded issue, it could go further.
LRW: New near term highs as the 50-day MA provided the push to drive prices higher. Still key resistance around $25.50. Weekly chart dates this consolidation to last summer. A move to $27 will trigger a quadruple top breakout - although the original point-n-figure target has been met. Stops can go on a close below the 200-day MA. Look for $32.
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.
BANR: Nice end of day hammer to confirm support at $33.20-33.35. Point-n-figure chart holds to a $54 price target as part of a November 3rd double top breakout. Run stops on loss of $33.20.
CSC: Consolidation breakout. Weekly chart shows strong resistance at $58, but heavy buying volume since late October should be able to consume. Projected base target of $74. Point-n-figure target holds to $78.
IMOS: One for watch list given $7.40 resistance could knock the recent bounce off $6.59 lows down a notch or two. An earlier symmetrical triangle on the weekly chart failed to generate a move, as prices passed through its apex (c$7). Short term bulls should look for $9. A break of $5.50 would favor a move down to $3.50.
LWSN: Watch weekly chart action. A weekly close over $8 would be significant and favor a follow on move to around $11.50. Point-n-figure chart holds to a double top breakout from October 17th and a price target of $14.50. Stops go on a loss of $7.25.
TRX: Hugging the 20-day MA as part of a solid uptrend. Insufficient data to draw much of a conclusion as to where it might go. Stops can go on loss of 20-day or 50-day MA.
HYB: Low priced stock and thinly traded (=easy to manipulate and tough to sell). $2 had been strong resistance, but this price now looks to be decent support. Watch for a run to $3.
ETB: Weekly chart shows a perfect 'V'-bottom. Move past $19.50 looks significant. Projected target is in the $23-$24 range, but with little overhead resistance and a relatively thinly traded issue, it could go further.
LRW: New near term highs as the 50-day MA provided the push to drive prices higher. Still key resistance around $25.50. Weekly chart dates this consolidation to last summer. A move to $27 will trigger a quadruple top breakout - although the original point-n-figure target has been met. Stops can go on a close below the 200-day MA. Look for $32.
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.
