We had a pretty good week here at The Chart Box, ALLT and BAC gave us a good chunk of cash. BEAM gave us some solid gains throughout the week, along with BRCM. If we can keep up the diligence we should be able to have another solid week.
If you're having problems hitting these moves properly email me and we will set up some mentoring sessions for you.
I have a hunch that this weeks candle will be a red one, not sure how red, but red nonetheless. Of course, with any hunch, never trade the hunch. Trade the action and volume
Trading Plan for 3/19-3/23
- POT - 46.20 - This one broke back above the 20d and 50d on heavy volume, poised to take out this descending trend line.
- RIMM - 14.65 - This one cleared back over the 20d on heavy volume, poised to take out this descending trend line as well. Price action and volume are key.
- BAC - 10.05 - This one has been sweet for us since breaking out last Tuesday, next buy area when clears this resistance on solid volume
- CNX - 35.75 - Keep this one on watch, it could be setting up to break out of this descending trend
- NOV - 84.30 - Keep an eye on this one, bounced hard off the 50d a second time. if it clears this resistance one could go long.
- MOS - 58.20 -This one cleared back over the 20d and 50d on solid volume Friday, if it holds up and gets over this descending trend line, one could go long
- CXO - Keep on watch, may be putting in a bottom here
- SODA - Still ugly, but one could lightly nibble if it breaks this descending trend line on good volume
- DE - 84.61 - This one broke through resistance and the 20d on heavy volume Friday, next buy area is when it clears back above the 50d
- APA - Thid one is looking good, clearing this descending trend line and the 20d on solid volume. one could buy here with somewhere around the 20d as a stop
- CME - This one is having wild intraday action, which is a little concerning, however if it can clear this descending trend line on volume, it may be a good play
- PEET - 70 - Keep an eye on this one as it tries to make new highs, if it commits to them on solid volume one could go long.
- BBBY - Another good winner this week, broke out on solid volume and made new highs into the weekend, keep an eye on this one
- SINA - I won't touch this one long until it's back over the 200d
- GOOG - 128.25 - This one broke back through this resistance are on solid volume, next buy area when clears here on heavy volume.
- AMZN - Keep on watch to break this descending trend line and go long
- QCOM - Been working well since breaking back over 63. Keep on watch for more highs
- BRCM - 38.40 - Working well since breaking out early last week, next buy area when breaks this resistance on volume
- NTAP - 44.25 - Continuing to watch as it bases below this resistance area, go long when it breaks on heavy volume
- NVDA - Broke this ascending trend line on good volume, look for more downside here
- GLD - Continues to look like crap, but if it breaks back over this resistance area and the 200d it may be worth considering long
- VZ - 40 - Keep on watch as it tests this old resistance area.
- AAPL - Watch for it to break below this support and fill the gap, or continue on through 600
- AZO - One could buy here with somewhere around the 20d as a stop, or wait for it to break this descending trend line on solid volume.
- BIDU - Keep an eye on this one, could go either way
- NFLX - Keep on watch, if it can clear back above the 20d on heavy volume, might be a good long
- INFA - Looking like it may break back below this resistance area... if not one could buy when it breaks 52 on heavy volume
- CRM 154.50 - Keep on watch as it tries to break through this old resistance area
- WYNN - 130 - Setting up nicely to take out this descending trend line and the 200d
- BIIB - Keep on watch to break out to new highs
- PETM - Worked well for us a couple weeks back, looks like it may test the 20d, keep on watch
- OPEN - Working well as a short since breaking below this ascending trend line on volume, watch for it to break this next 40 support and more downside
- BEAM - Working well since breaking this descending trend line, watch how it acts at this support line and play accordingly.
- SHLD - 83.50 - Keep on watch to get back through this area.
- LVS - 58 - Having trouble around this resistance, watch for it to clear and get above 58 and go long.
- ALLT - Keep on watch for more highs on good volume
- LNKD - 95 - Keep on watch to get over this next resistance area
- WDC - Broke this ascending trend line on good volume, watch for it to hold or break the 50d
- VMW - 109.75 - Working well since breaking out Tuesday on heavy volume. Next buy area when clears this resistance on volume.
- UA - Getting a well needed pullback, watch how it acts on this support area and or the 20d
- LULU - looking topped out with a bearish engulfing candle here...
- PANL - Avoid for now, but keep on watch