....... STOCKS TO WATCH - WEDNESDAY - NOVEMBER 24 .......
Since we haven't had a market correction, I'm not seeing a lot of quality reversal setups. We can either sit still and wait, or try to squeeze out some short term profit.
PCLE is showing a bullish engulfing pattern at a major moving average point. The price closed just above the 20 day moving average and the pattern is setting up for a snap back up.
I should caution, this isn't a strong pattern but it exists none the less. I don't like that gap from yesterday and I think it could serve as resistance.
So, we have conflicting signals; a bullish engulfing pattern and a gapping window yesterday.
Close the gap and PCLE is a buy. The trade may not trigger tomorrow but this is one of those trades I will leave open for a couple of days. Closing that window would be bullish for further upside.
The fuel cells look horrendous but money flows look great. It's this dichotomy that makes me think if the issue of the gap can be closed, the fuel cells will confirm.
stockcharts.com[h,a]daclyiay[d20040623,20041123][pd10,1!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
Entry target $5.46. Price target, once in the trade $6.40. Initial stop loss, once in the trade $5.26.
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JILL is hovering around the 50 day moving average. We have a couple of Doji and a spinning top which all confirm that neither the bulls nor bears have control at this time.
My indicators are suggesting the bulls are going to win tomorrow so, we'll play this one to the upside.
It will have to get up to $18 to trigger a trade though. Since there is not a convincing indicator to show who's in charge, I want to see the bulls take control before I commit to the trade.
stockcharts.com[h,a]daclyiay[d20040623,20041123][pd10,1!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
Entry $17.97. Price target $19.05 (be happy to take a buck until we see better setups). Initial stop loss $17.85 once in the trade.
dabum |
