Setups Worth Watching
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Abercrombie & Fitch Co.(NYSE:ANF) - The stock finally broke out today after consolidating in rounding bottom formation over the last four months. The stock is expected to find its first resistance at 55.28, and a rise through could take it to the next resistance level of 56.84. We saw significant option activity on march calls today.
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Exxon Mobil Corporation (NYSE:XOM) is trading in a range between 87.50 and 83 for several weeks. As long as 83 support holds, the price action in the range could be treated as consolidation of the uptrend. On the other side, a breakdown below 83 will indicate that lengthier correction of uptrend is underway, then deeper decline could be seen to 82 area.
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WellPoint, Inc. (NYSE:WLP) - A break above the 68 level would give the stock momentum for a run to test the 70. A pullback to the 66 area would also be a great oportunity to buy on pullback for those who want to trade the swings.
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LSI Corporation (NYSE:LSI) broke out to all time highs accompained by a strong volume suggesting higher levels. The stock hit a high of $9.20 which is now resistance for Thursday’s follow through move.
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Labels: ANF, LSI, SIRI, WLP, XOM
