FAS long: financials relative strenght, TC long: downtrend channel about to be broken
FAS: financial showing clear relative strenght in the last 4 days, and bottoming formations.
FAS is probably openinig above intraday support.
FAS long: buy limit 24.09, stop loss 23.58
day trading target: +0.77$ profit
TC LONG: showing relative strenght in the rare metal industry, intraday volume looking good,
MAKO long: tight range sitting right on gap support, UAL long: building support during markets downtrend
UAL: showing some relative strenght vs the other airlines. it formed a support during the last 5 days, which is also
on mid term support. very oversold (see stochastics). oil is not looking good.
it seems a very good spot for a bounce.
UAL long: buy market, stop loss 21.65
day trading target +0.68$ profit
ROK short: no bounce at all on important long term support level
ROK: no bounce at all at important January gap support level, despite yesterdays positive
action of the markets. Significant april gap down on high volume the day after
the 52w high has put an end to the uptrend. Short below yesterdays low.
ROK short: sell stop 78.95, stop loss 80.16
day trading target: +1.55$ profit
today trade: CF long. fertilizer relative strenght, CF is the strongest one.
CF LONG: all fertilizer stocks easily holding above May lows. CF is the strongest one, it keeps making higher lows, lower shadows in the last few days, volume remained positive, and we have a good intraday
setup to play a likely market bounce.
CF long: buy stop 150.09, stop loss 148.31
day trading target: +4.04$ profit
HLF short, ASCA short: two canditates for profit taking in this market environment
ASCA: recent strong reversal on volume after a big run, it's now forming a flag / falling triangle
it seems ready to continue down.
ASCA short: sell stop 20.80, stop loss 21.12
day trading target: +0.49$ profit
HLF: about to break below support of the last breakout, due for some profit taking in this market environment
after a +60% in 3 months.
ITUB short: good canditate if brazil follow the US markets down
brazilian bank holding up well
atm as all brazilian stocks (EWZ).
but the US market is giving
important bearish signal.
ITUB just hit resistence at the 200 dma
and stochastics bearish crossover.
waiting for the stock to move down
ITUB short: sell stop 22.12, stop loss 22.39
target: +0.47$ profit
Charts on http://www.winningstocktrader.com
CNC short: uptrend broken. health care sector to follow overall market
the uptrend seems to be broken
health sector should be following
the overall markets and correct
a little bit more.
also may top is on very high volume
and intraday reversal which is
shorting below yesterdays low
CNC short: sell stop 33.52, stop loss 34.14
day trading target: +0.70$ profit
May results: +28%