Wk28: Stocks to Watch

Sideways market action yields less momentum in individual stocks. We have not seen very many stocks giving quality entry signals due to this summer slowdown and decrease in volume. Earnings season is here, kicked off by aluminum manufacture Alcoa (AA) which reported its 3rd consecutive quarterly loss. Regardless, these are some of the stocks we are watching in the week ahead.

Long
ICUI – Strong trend, waiting consolidation of the forming bull flag pattern.
MMSI – Awaiting retest of last week’s breakout, Note: lots of congestion a few months back.
NTY – Breaking out on strong volume.
DORM – Ascending Triangle, approaching all-time highs, however the stock is a teen and trades on low volume so proceed with caution.
FUJI – Strong trend, but the stock gaps due to foreign markets trading.
DPM – Strong trend, lower volume stock though, look to buy breakout or retest.

Short
CF – Potential short, but watch out for a double bottom here.
CLB – Clear break of uptrend and has established a downtrend on the daily, wait for low volume bounce to enter.
CRS – Declining fast on higher volume.
FCL – Great down channel. Entry $25.34, target 127.1 Fibonacci Retracement $21.00.
PSE – Another good down channel, wait for low volume bounce before entering. Note: The stock doesn’t trade in high volume to begin with.