Trade Ideas: TOT, TRAK, CLRK, PAL, FBTX, VPRT, GNW, PAAS
The following 8 stocks covered a 1hr 5 min time period; well below the 50+ stocks from last week; not a market for stock picking. The Frequency is illustrated using "*":
TOT: **** : Small handle developing between $137 and $132. Run stops on loss of lows. Projected target of $178.
TRAK: *** : Little historic data to work with. Stops can go on loss of $21.65. Key resistance at $24. Unlikely to make a big move soon, but should do okay as a hold.
CLRK: * : Recent dojis suggest indecision from bounce off $17.21. Retest of latter price cannot be ruled out. Major resistance at $22. Large base pattern dating back to late 2004. Projected target of $30.
PAL: ****** : Stuck in a 3-month base, trading between $9.50 and $12.50. Trade break of resistance. Point-n-figure target of $19 not unreasonable, especially if the stock makes it to $13 (=an ascending triple top breakout).
FBTX: * : Bull flag still in development. Stops go on loss of $18.50. Projected target of $24 - similar to the point-n-figure target of $24.50.
VPRT: * : Can it hold the 50-day MA into the close? Some heavy volume trading over the week, not to mention the big buying spike in March. Resistance at $36 to consider. Stops can go on loss of $28.38.
GNW: * : Trading a flat range between $33 and $34.25. Stops can go on loss of 50-day MA at $33.33. Major resistance at $35.25. Upward advance slowing, but the trend is your friend.
PAAS: * : Small gap up has stalled for the most of the afternoon, but does rank as a confirmed breakout from a bull flag. Excellent support at 50-day MA. Stops can go on a loss of this average. Current point-n-figure target of $24.50 has been exceeded; trail stops on each reaction low.
Trade Ideas
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TOT: **** : Small handle developing between $137 and $132. Run stops on loss of lows. Projected target of $178.
TRAK: *** : Little historic data to work with. Stops can go on loss of $21.65. Key resistance at $24. Unlikely to make a big move soon, but should do okay as a hold.
CLRK: * : Recent dojis suggest indecision from bounce off $17.21. Retest of latter price cannot be ruled out. Major resistance at $22. Large base pattern dating back to late 2004. Projected target of $30.
PAL: ****** : Stuck in a 3-month base, trading between $9.50 and $12.50. Trade break of resistance. Point-n-figure target of $19 not unreasonable, especially if the stock makes it to $13 (=an ascending triple top breakout).
FBTX: * : Bull flag still in development. Stops go on loss of $18.50. Projected target of $24 - similar to the point-n-figure target of $24.50.
VPRT: * : Can it hold the 50-day MA into the close? Some heavy volume trading over the week, not to mention the big buying spike in March. Resistance at $36 to consider. Stops can go on loss of $28.38.
GNW: * : Trading a flat range between $33 and $34.25. Stops can go on loss of 50-day MA at $33.33. Major resistance at $35.25. Upward advance slowing, but the trend is your friend.
PAAS: * : Small gap up has stalled for the most of the afternoon, but does rank as a confirmed breakout from a bull flag. Excellent support at 50-day MA. Stops can go on a loss of this average. Current point-n-figure target of $24.50 has been exceeded; trail stops on each reaction low.
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.
