With that said, I would like to share some charts that will be in our watch list this week.
Keep in mind some will not breakout, some will break out and retrace to hit the stop. Others will move in our favor providing good returns on the money at risk. It is all about risk management.
Please take advantage of the position calculators provided below.
ATAI is showing signs that it would like to break out of its corrective pattern.
BHF is bouncing off a horizontal support area. We entered this one on Friday, and it is still within the buy zone.
EVC is in a position to challenge its upper trend line and if so, it will be a good trading opportunity.
FORM is a semi conductor ticker that is in a great position for a trend reversal.
INTC is great stock that not only is providing a possible trend reversal, but can also be a great long term hold for the “investor” types among us.
LLY is in a basing pattern, our entry will be on the breakout of the base.
MMM is showing early signs of a reversal, if it follows thru, it will provide a great entry point.
MPWR is another semi conductor stock that is providing a entry near a bottom.
QD is a Chinese company whose price structure is testing the support of the breakout zone after the completion of a rounding bottom pattern.
XPO is trading at the bottom of a rising trend channel. If the reversal confirms, then it will meet the definition of a new uptrend, a series of Higher Highs and High Lows.