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Friday, June 01, 2012 

6 Trade Setups To Watch next week

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Duke Energy Corporation (NYSE:DUK) Stock price blasted up and out of its week trading range, closing the day near the highs. From a technical standpoint, I believe we are due for a retrace lower here partly due to the overbought conditions. So if that happens we will watch support in the 10 day MA for price action buy signals to re-join the fresh bullish momentum in this stock.

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Las Vegas Sands Corp.(NYSE:LVS) The stock's downtrend is still in full-force and we can see in the daily chart above that the stock price broke and closed below the key support level at 45.66  I do not want to attempt to pick the bottom in LVS as it has been selling off hard, with no obvious price action signs of a reversal on the horizon. 

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Wal-Mart Stores, Inc. (NYSE:WMT) was a nice mover this month on very heavy volume. Now, the stock just needs to consolidate above the 10-day moving average. If the stock can consolidate for a few more days to alleviate the overbought conditions, we could see another strong move. 

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Could be an interesting week for Career Education Corp. (NASDAQ:CECO) investors as the stock is showing some signs of a possible technical rebound in the making. The MACD and CMF are still showing positive divergences and the MFI is moving up and currently it has a value of 63.60 below overbought region of 80. There is positive money flow for the stock. The key technical resistance level investors will be watching is the 7 area. A breakout above this level could send the stock on a major push higher.

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Traders that follow Pharmacyclics, Inc. (NASDAQ:PCYC) feel the retest of the 30 area have shaken out of enough weak longs and could be poised to make new highs next week. The key resistance level traders we will be focused is on the 33 area.

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Right now the big question on everyone’s mind is whether or not VirnetX Holding Corporation (NYSEAMEX:VHC) has consolidated enough and is it ready for a big move. A breakout above the critical 35 level will be the big technical event for the coming trading week. The stock has been in a nice uptrend for the last two weeks and it looks very strong with both 50-day and 200-day moving average going up. This is a stock to keep an eye on for awhile. 

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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC

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I agree that VHC is poised for a major breakout.
Look for it to possibly move to the 45-50 area in the next month or so.
Major accumulation going on here...

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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