Monday, May 7, 2012

Stocks to Watch...

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1:25 pm EDT

Evolving Charts to Watch Today

 (click image to enlarge)

SPY sideways trend at support forming a white candle that could become a piercing line pattern by end of day

BAC after a six week down trend forming a bullish engulfing and MACD bullish divergence at horizontal support and near a 50% Fib retracement off its Dec 19 low for a potential six-week counter trend bounce and an intermediate term continuation bounce

SHLD forming a potential piercing line pattern and potential higher low support bounce after a 61.8 Fib retracement and setting up a potential C pattern

ADSK in a six week down trend forming a potential MACD bullish divergence that could become a potential counter-trend bounce

Check Friday’s post for other Setups including Bull Flags to Watch on Monday

1 comment:

Donald Meoli said...

Dave, thank you for the intra-day comments. I find that very helpful and would love to see more of that if you ever have time. Really helps keep me in focus. Thank you for everything!