I wanted to share some charts I’m keeping my eye on for next week. Alerts have been set at the indicated areas to notify me when price breaks through these levels and I’d consider a long entry. As I work full time, these alerts (shown and set here through TrendSpider – see below for details) are critical for me and let me catch trades without being tied to the screen all day. Also, since the homework has already been done on these with the markets closed, if the alert is triggered and price is holding these levels, I can enter without hesitation and keep emotions out of it. When I enter the trade, I place my stop immediately and these would be slightly below the indicated levels.
All stocks below are trading above their 50 and 200 day simple moving averages. Additionally, all have EPS and sales growth of over 20% during the last quarter. Most importantly, these are in demand stocks in uptrends that are close to breaking out of some type of consolidation. I like these entries because the potential is there for a meaningful move and, even more important, I know where my stop will be keeping the loss small if they start to go down. Here’s the charts:
Some attractive setups here and if markets keep heading higher next week, odds are good I’ll be entering some of these.
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Have a great weekend.