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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Labels: CECO, DUK, LVS, PCYC, VHC, WMT
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...
Posted by
Anonymous |
10:31 PM