More Upside than Down

//More Upside than Down

Hawk’s Scan Sentry Report February 20

The bulls seem to be driving the American equities train right now, and they appear to have a full head of stem.  The markets are making new highs and the economic data for the US economy appears to be improving. As noted in this publication several weeks ago, I am still quite bullish on American equities for the long term (6 months-1yr) but I will be prepared for short term bearish positions (several days) as the market presents such opportunities. Here are a few stocks that I am looking at this week.

For those of you who follow these reports regularly and study the charts, you may notice that this week I have added an automatic trendline indicator to the charts which draws the most current up-trendlines and down-trendlines and plots a dot when trendline breakout and pullback signals occur. If you have any questions about what the other indicators on these charts are showing you please click on this link for an explanation of each of the tools displayed.

Now, here are some stocks that I’m watching for trading opportunities this week…

_____Longs_____

TAP

(I like the combination flag breakout and trendline breakout resulting in the resumption of the bullish Triple Trender).

BX

(After a pullback to the breakout price which is now support, note the Trend Exhaustion 1 OverSold signal along with the Pullback 23 signal at a pullback into the Triple Trender).

_____Shorts_____

PMC

(A nice Pullback 23 into a bearish Triple Trender near the down-trendline).

CLF

(Radar1-Fear/Greed  and Radar3-Trend Strength have both just turned bearish along with the Triple Trender following a bearish Pivot Divergence. I expect it to test the lows around $57.00).

May the trend be with you,

Hawk

Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only.  It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading.  Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor .

2018-01-08T08:00:42+00:00February 19th, 2012|Hawk's Picks|