[CRYSTAL BALLING - MAY 19TH - 23RD]
Struggling this week for good technical analysis plays this week. A lot of stocks have made some good moves lately, and most of the trades I can spot are on the bear side. Most of the good stuff lies in small cap oil and energy plays, as a lot of them are having their breaks at the moment. I have absolutely no techincal setups for this week after considering some bottom plays on KIE and BLND - which I won't cover as the risk for reward isn't worth it in my opinion.
Some of the below were on Thursday nights hit-list for Friday, some did well and others didn't make their moves. I believe they're all worth watching - as some are set up for reversals, others looking for breakouts/new highs etc.
Momentum plays this week:
LSE is probably the nicest chart which is why I'll include it. The difficulty this week will be a closing over the 50 day ema (red line) which it is close to at the moment. It didn't manage last time and bounce very hard to the new lows it found itself at over the past 2 weeks. Currently just off long term (3 year) support/resistance line - and these types of plays have been 100% profitable over the past 3 or 4 weeks. Watch for moves around 1228p too.
Big jump on high volume for EEL, but stochastics say oversold. I predict down as profits are locked in and then a move back up - but these stocks often don't do what you think.
SER at new highs with strong volume. All indicators say continuation but watch for profit taking on Monday.
AGA on triple bottom with descending wedge - watch for a breakout either side for entry point short or long.
PTR for multiple bottom support at 27.5 entry for short term profits.
EME on a gap break followed by new support bounce and move up play - stochastics awaiting confirmation. Look for bounce at about 46p.
Anything above 29.2p on EMED means a break to new highs. All indicators and volume point to this happening this week. Lock in profits quick here and let some ride.
Look for a 1-2-3-4 on RIFT as it ran away last week then took a breather on Friday. The move was mostly news and ramp based, looks like it will retrace and then continue later.
Follow TRP for an insight into how the market responds to 250% gains in one day.
As always, watch SOLA closely for continued new highs after some retracement.
Like I said, the market doesn't look great this week, hopefully this will change by Tuesday. I won't be getting involved on Monday because of college, so I will have another look Monday night for some short term setups for the rest of the week.
Some of the below were on Thursday nights hit-list for Friday, some did well and others didn't make their moves. I believe they're all worth watching - as some are set up for reversals, others looking for breakouts/new highs etc.
Momentum plays this week:
LSE is probably the nicest chart which is why I'll include it. The difficulty this week will be a closing over the 50 day ema (red line) which it is close to at the moment. It didn't manage last time and bounce very hard to the new lows it found itself at over the past 2 weeks. Currently just off long term (3 year) support/resistance line - and these types of plays have been 100% profitable over the past 3 or 4 weeks. Watch for moves around 1228p too.
Big jump on high volume for EEL, but stochastics say oversold. I predict down as profits are locked in and then a move back up - but these stocks often don't do what you think.SER at new highs with strong volume. All indicators say continuation but watch for profit taking on Monday.
AGA on triple bottom with descending wedge - watch for a breakout either side for entry point short or long.
PTR for multiple bottom support at 27.5 entry for short term profits.
EME on a gap break followed by new support bounce and move up play - stochastics awaiting confirmation. Look for bounce at about 46p.
Anything above 29.2p on EMED means a break to new highs. All indicators and volume point to this happening this week. Lock in profits quick here and let some ride.
Look for a 1-2-3-4 on RIFT as it ran away last week then took a breather on Friday. The move was mostly news and ramp based, looks like it will retrace and then continue later.
Follow TRP for an insight into how the market responds to 250% gains in one day.
As always, watch SOLA closely for continued new highs after some retracement.
Like I said, the market doesn't look great this week, hopefully this will change by Tuesday. I won't be getting involved on Monday because of college, so I will have another look Monday night for some short term setups for the rest of the week.
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