Trade Ideas: VMSI, ORBK, GASS, GFF, WM, WFSL, PBT, GGN
Broad market selling has left few stocks in positions where they might climb higher. The current 8 stocks for review covered a timespan of 30 minutes.
VMSI: Fast approaching 20-day MA could be the push needed to break the current 11-day consolidation. Stops on loss of $41. Projected target of $50.
ORBK: Still caught inside a range between $23.15 and $25. Converging 50-day and 200-day MAs should provide some support. Key resistance lurks at $26.
GASS: Illiquid stock shaping a small handle off $14.25 resistance. Support at $13.75 should be good enough, otherwise look to the 50-day MA at $12.85. Little historical data to go on otherwise.
GFF: Another range bound stock. Support at the 200-day holding after an earlier "Death cross" with the 50-day MA. $25 is important resistance. Stops can go on a loss of $24. Expect momentum buyers to join the fray on a move to $28.
WM: Also stuck in side a $41.50-$44.50 range. Yesterday's gap breakout is holding, so watch for $44.50 resistance to give way. Stops can go on a loss of $42.80. Should be good for a move to $55.
WFSL: Relatively thinly traded. Key resistance at $24.85. Strong positive money flow works in the stocks favor. Move to $25.00 will trigger an ascending triple top breakout. Point-n-figure target of $36.50 looks reasonable.
PBT: Pushing back from $16.50 resistance. Support at $16, then the 50-day MA at $15.70. Sharp 'V'-bottom. Point-n-figure charts shows a quadruple top breakout with a price target of $22.00.
GGN: Building off a double bottom at $21.32/$21.07 ("W"-bottom). Looks good for short term move to $27. Energy stocks once again coming to the fore. Little historic data, so ride the trend.
Trade Ideas
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VMSI: Fast approaching 20-day MA could be the push needed to break the current 11-day consolidation. Stops on loss of $41. Projected target of $50.
ORBK: Still caught inside a range between $23.15 and $25. Converging 50-day and 200-day MAs should provide some support. Key resistance lurks at $26.
GASS: Illiquid stock shaping a small handle off $14.25 resistance. Support at $13.75 should be good enough, otherwise look to the 50-day MA at $12.85. Little historical data to go on otherwise.
GFF: Another range bound stock. Support at the 200-day holding after an earlier "Death cross" with the 50-day MA. $25 is important resistance. Stops can go on a loss of $24. Expect momentum buyers to join the fray on a move to $28.
WM: Also stuck in side a $41.50-$44.50 range. Yesterday's gap breakout is holding, so watch for $44.50 resistance to give way. Stops can go on a loss of $42.80. Should be good for a move to $55.
WFSL: Relatively thinly traded. Key resistance at $24.85. Strong positive money flow works in the stocks favor. Move to $25.00 will trigger an ascending triple top breakout. Point-n-figure target of $36.50 looks reasonable.
PBT: Pushing back from $16.50 resistance. Support at $16, then the 50-day MA at $15.70. Sharp 'V'-bottom. Point-n-figure charts shows a quadruple top breakout with a price target of $22.00.
GGN: Building off a double bottom at $21.32/$21.07 ("W"-bottom). Looks good for short term move to $27. Energy stocks once again coming to the fore. Little historic data, so ride the trend.
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.
