Few Long Setups for the Week of 03/18/2012

Thought I'd share a few charts of interest to the long side going into the week.

Nice bull flag after strong breakout. Breakout over $30

Strong flag pattern. Breakout over $20

Triangle breakout over $118

Breakout over $46.75

Nice flag after breaking out, breakout over $134

Looks good over $118

Recent IPO looks good over $32.50

Couple of sector charts that also look good in my opinion below

Didn't see as many setups this week as in past weeks. However, the trend is still higher and I see no evidence to assume otherwise at the moment.

Macro Weekly Trends of Interest- Make it Your Own Idea

Thought I would share a few macro trends I am interested in lately. If any look interesting make it your own and manage accordingly within the context of your strategy.

"WLT: Bottom Feeder Explained on Multiple Frames"

Walter Energy is by no means a leader in this market. However, there may be an opportunity none the less.  I've been watching the $57 area serve as major support that has been tested many times.  Given that everyone has unique time frames and risk tolerances, I thought it would be reasonable to simply point out what I am looking at.

The weekly time frame illustrates a potential slowing in the severity of the downtrend in relation to the 20 period moving average below.

On the daily frame recent action provides further evidence for $57 being firm support in the name. The wide range bar on 03/09 demonstrates institutional interest on 145% of average daily volume. The wide range day was followed by a constructive consolidation and navigation of the 10 day moving average. Friday's action caught my attention with solid relative strength on increasing volume, as it began to breakout of the flagging pattern.

I will be watching to see if we can crack the 20 period moving average and the $63 level overhead next week for a potential entry.


Never forget to make every trade your own.

Charts of Interest - 03/10/12

Thought I would run through a few charts on my radar this week.

$HSFT- Support $15-$15.20 with room to move above $16

$USB- Consolidating above prior breakout level. Supported by rising 10,20 and 50 day moving averages with price support at $28.50. Measured move out of recent consolidation about $1.50

$GRMN- Consolidating nicely after an enormous volume breakout. A confluence of price support and the 20 period moving average at $46.50. Breakout over $48 with a first target of $50.

$FBHS- A powerful breakout this week on strong volume and a well defined recent IPO trend. Potential for trailing prior breakout support in the event of a retest.

"Charts of Interest"- Manage Risk

Still seeing a number of healthy setups. Could we correct, yes, could we continue higher yes. Identify potential opportunity and manage risk.