Trade Ideas: AKZOY, NOC, BNS, MFW, SNA, SHU, TAP, NI
Markets are doing enough to hold the last couple days worth of gain. The Trade Ideas scan is pumping out stocks at a brisk rate; the current crop of 8 covered 1 minute of the software's time.
A couple of the picks are making fresh 'mini-golden crosses' of the 50-day and 20-day MA: AKZOY and NOC. Other recent crosses between the 20-day MA and 50-day MA can be found in SHU and TAP.
Northrop Grumman (NOC) looks to have continued institutional support after a picture perfect test of the 200-day MA back in June. Look for a measured move to $81.
M&F Worldwide (MFW) looked to have pushed a break of $16.50 earlier in June but was stalled out at weekly resistance of $17.50. The stock is finding support at $16.50 (former resistance now support) and has merit here. Stops on a break of $16.40. An alternative stop may be placed at the 200-day MA for those looking to give the trade a little more room.
Shurgard Storage Centers (SHU) was another stock to find instiutional support at the 200-day MA (this time in May and June). It is in the fifth month of a new base - its first real attempt at a base wince early 2005. Point-n-figure chart target of $78 looks appealing. Stops on break of $61.60. Cautious buyers should wait for new reaction high using a pivot price of $64.10.
Trade Ideas AKZOY NOC BNS MFW SNA SHU TAP NI
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
A couple of the picks are making fresh 'mini-golden crosses' of the 50-day and 20-day MA: AKZOY and NOC. Other recent crosses between the 20-day MA and 50-day MA can be found in SHU and TAP.
Northrop Grumman (NOC) looks to have continued institutional support after a picture perfect test of the 200-day MA back in June. Look for a measured move to $81.
M&F Worldwide (MFW) looked to have pushed a break of $16.50 earlier in June but was stalled out at weekly resistance of $17.50. The stock is finding support at $16.50 (former resistance now support) and has merit here. Stops on a break of $16.40. An alternative stop may be placed at the 200-day MA for those looking to give the trade a little more room.
Shurgard Storage Centers (SHU) was another stock to find instiutional support at the 200-day MA (this time in May and June). It is in the fifth month of a new base - its first real attempt at a base wince early 2005. Point-n-figure chart target of $78 looks appealing. Stops on break of $61.60. Cautious buyers should wait for new reaction high using a pivot price of $64.10.
Trade Ideas AKZOY NOC BNS MFW SNA SHU TAP NI
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
