Trade Ideas: BOT, REM, XLE, FHN, DLIA, PNFP, AHC, BKMU
Today's selection took less than 2 minutes for the software to pick up; solid action into the close of business.
BOT: Found support at the 50-day MA. Current bounce should challenge $135 resistance. Looks to be shaping a handle as part of a 4-month cup-and-handle pattern. Pivot buy is $134.10. Projected target $185.
REM: Hugging the 50-day MA (good place for stops). Huge volume breakout gap from January holding. Currently working a new challenge of $46 resistance. One of the better energy plays
XLE: Energy ETF on the move once again. Support should be solid at $54 (place stops on a loss of this price, or the 50-day MA). Resistance at $58. Projected target of $66.
FHN: After months of struggle around a converged 50-day and 200-day MA, the stock has managed to put some distance from $40 support (former resistance). Today's price move looks to be a break from a 2-week handle. Stops on a loss of $41, Projected target of $47. Point-n-figure chart holds to $53.
DLIA: Relatively thinly traded as chart shows a small, symetrical triangle which has breached to the upside. Today's intraday pullback is a confirmation test of triangle apex support. Stops on loss of the day's lows. Look for test of $9.50 resistance and for a move to $11.
PNFP: Another thinly traded stock enjoying a period of relatively heavy accumulation. Stops on loss of 50-day MA, which has provided decent support up til now. Unlikely to make rapid gains - but slow and steady could perform here.
AHC: Range bound between $133 and $146. Trade break of these prices. Prior trend favors upside break which should lead to a challenge of $155 resistance. Point-n-figure chart favors a move to $120. Take your pick.
BKMU: Another stock which has traded steadily above its 50-day MA. Resistance likely to kick in around $12; so watch for sideways action at this point. Buy volume break of $12. Stops on loss of $11.50. Short term target of $15.
Trade Ideas
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BOT: Found support at the 50-day MA. Current bounce should challenge $135 resistance. Looks to be shaping a handle as part of a 4-month cup-and-handle pattern. Pivot buy is $134.10. Projected target $185.
REM: Hugging the 50-day MA (good place for stops). Huge volume breakout gap from January holding. Currently working a new challenge of $46 resistance. One of the better energy plays
XLE: Energy ETF on the move once again. Support should be solid at $54 (place stops on a loss of this price, or the 50-day MA). Resistance at $58. Projected target of $66.
FHN: After months of struggle around a converged 50-day and 200-day MA, the stock has managed to put some distance from $40 support (former resistance). Today's price move looks to be a break from a 2-week handle. Stops on a loss of $41, Projected target of $47. Point-n-figure chart holds to $53.
DLIA: Relatively thinly traded as chart shows a small, symetrical triangle which has breached to the upside. Today's intraday pullback is a confirmation test of triangle apex support. Stops on loss of the day's lows. Look for test of $9.50 resistance and for a move to $11.
PNFP: Another thinly traded stock enjoying a period of relatively heavy accumulation. Stops on loss of 50-day MA, which has provided decent support up til now. Unlikely to make rapid gains - but slow and steady could perform here.
AHC: Range bound between $133 and $146. Trade break of these prices. Prior trend favors upside break which should lead to a challenge of $155 resistance. Point-n-figure chart favors a move to $120. Take your pick.
BKMU: Another stock which has traded steadily above its 50-day MA. Resistance likely to kick in around $12; so watch for sideways action at this point. Buy volume break of $12. Stops on loss of $11.50. Short term target of $15.
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.
