As usual, my latest technical setups are geared towards short-term moves with lots of volatility – trade with care. Without looking at the fundamentals I have no way to know if any of these are good investments. So, what I’m looking for is simple. I want to see one or a few of the stocks below make a momentum move.
MBHI – Watching for breakout above .45. I like today’s volume (lots of banks moved today and saw significant volume) – will the volume continue tomorrow? We’ll see. My entry – over .45. Target .55 .
OPXT – Ascending triangle with improving volume. Full Sto range is narrowing. Would like to see more strength out of the MACD. I’m looking for small position entry above top descending trendline and I’ll add if it makes a move above horizontal trendline. Target 2.30. Must continue with volume.
PNX – Kunal and I have chatted about PNX a few times lately and I thought we would see a breakout by now. Well, the setup is still there – tight bollinger bands and trading in a loose symmetrical triangle. Currently testing MA50, but I’m really waiting for a horizontal breakout move above 3.01. I will not play until it makes the move, thus removing the possibility of being stuck in a breakdown.
PACR – Tried to get through recent highs today. Looking for a move tomorrow to open those bollinger bands.. needs to show 3.40 support by end of day or this could be a fake move.
ATSG – I like the improving volume with MACD crossing north. I’m interested in going long above 2.85.
SQNM interesting if it moves above 4.75. Not a bad looking ascending triangle with reversing / bottomed out Full Sto.
OK. I’m tired. See you all tomorrow.