Today’s chart scan includes Weatherford (WFT) and Crown Castle (CCI). Weatherford has been in along term downtrend, but has insider buys within the last 8-months near current prices. Crown Castle has been holding up well during a tough market and looks poised to breakout. CCI will benefit from communications infrastructure build out.
Today’s stock chart scan highlights Yum Brands (YUM) and Direxion Daily Small Cap Bull 3x (TNA). Yum displays a great chart with a clear neckline. With recent trading activity YUM has held up very well, despite overall market weakness. The Direxion Daily Small Cap Bull 3x (TNA) shows a possible head with double shoulders pattern. Last Friday’s candle (08/20/2010) made a low which touched the neckline of our head and shoulders pattern.
Today’s stock chart scan examines Northgate Minerals (NXG) and Abercrombie & Fitch (ANF). Northgate exhibits a large symmetrical triangle pattern nearing its apex. With favorable precious metals prices and higher margins NXG could be set for a move higher. Abercrombie shows a classic head and shoulders formation with a neckline of $30.00. With consumers strapped for credit and retail sales weak, keep an eye on ANF heading into the end of 2010.
Today’s stock chart scan highlights Decker’s Outdoor (DECK) and Tempur-pedic International (TPX). As a manufacturer of footwear, Decker’s has recovered nearly five-fold from its bottom near $12.50. It’s chart now features a possible head and shoulders pattern and should be watched carefully. Tempur-pedic features a declining triangle pattern with a neckline of $28.25. With shares [...]
Today’s stock chart scan includes Titanium Metals (NYSE:TIE) and Intuitive Surgical (NASDAQ:ISRG). Titanium Metals supplies titanium based products to the airline industry while Intuitive Surgical designs and manufactures cutting edge surgical products. Each stock is approaching key support trendlines and should be watched closely.
Today’s stock chart scans include casino stock Las Vegas Sands (LVS) and Barrick Gold Corp (ABX). With (8) trendline touches (LVS) displays a solid support trendline. While Barrick Gold is currently forming a long term triangle pattern nearing its apex on decreasing volume.
Today’s chart scan highlights Baytex Energy Trust (BTE) and Powershares US Dollar Index (UUP). Baytex currently offers a lucrative 6.30% dividend ratio. Additionally, its shows a symmetrical triangle formation on decreasing volume. The Powershares Dollar Index (UUP) is also important to watch given the recent FED action. UUP is quickly approaching key long term support levels.
Today’s chart scan for August 9th, 2010 includes Powershares QQQ Trust (QQQQ), Best Buy (BBY). Chart annotations are provided with clear resistance and support levels. Be sure to check out the forum for follow-up reports and discussion.
*Federal Reserve meeting August 10th, 2010*
Today’s scan for August 8th, 2010 includes Goodrich Petroleum (GDP), Mankind (MNKD) , Visa (V) , First Solar (FSLR). Chart annotations are provided with clear resistance and support levels. Be sure to check out the forum for follow-up reports and discussion. Goodrich Petroleum Corp (NYSE: GDP, Free Analysis) MannKind Corp (NASDAQ: MNKD, Free Report) Visa [...]