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Thursday, March 22, 2012 

Breakout setups on watch

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Lululemon Athletica inc.(NASDAQ:LULU) had a nice breakout today, up 1.88, or 2.54%. Resistance was taken out with a thrust and could lead to more upside. Look for a target at about 79-81 short-term. I'll be watching LULU on Friday for a continuation of this breakout. The trend is still bullish as the stock is still on top of 20-day and 50-day moving average with both moving averages going up. Other good news, the MACD is perking up and the OBV is moving up. Honestly, I believe the stock has room to go higher. Watch the stock closely on Friday.
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Western Digital Corp. (NYSE:WDC) broke out from a rectangle pattern accompanied with high volume. We should be able to see some decent upside movement for the bulls here. A positive MACD cross has occurred and RSI is moving up strongly. 
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Starbucks Corporation (NASDAQ:SBUX) stock broke out to new highs today on 2x the daily avg. volume. Looks good for higher prices.

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Constellation Brands, Inc. (NYSE:STZ) - Broke out today on good volume. No resistances above. 
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Mindray Medical International Ltd (NYSE:MR) continued its move up having broken out from an ascending triangle pattern a few days back.

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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.

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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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