Wk14: Weekly Watchlist

Long:

CPSI – Pulled back to support making for a great entry point.
CCK – An ascending triangle is forming on CCK. We typically trade a move like this in one of three ways, an anticipatory trade here, buy the breakout, or buy the retest of support.
CLB, MOS and RCII can be traded in the same way as CCK.
GMCR – Very nice triangle consolidation pattern forming. A break in the direction of the trend should result, which in this case is up.
LINC – A buy over the hammer at $17.50 with a stop under the low at $16.50 allows for an easily managed trade.
RIG – A bounce off support here provides a great entry.
Short:
HMSY – Bear flag pattern forming. Notice how the current rally is on declining volume and has not retraced more than 50% of the “pole.” An anticipatory entry or an entry on the breakdown of $29.50.
SIGM – An easily managed trade with an entry below the low of the inverted hammer and a stop above its high, the low volume on the prior rally adds confirmation that the stock is likely to decline more.

More Shorts:
ESRX, HBC, HME, K