----------- STOCKS TO WATCH - THURSDAY - JULY 28 -----------------------
CNF had a high volume, wide range bar form on 7/20. Price continued higher for one more trading session where a 3 bar drop then formed. Yesterday saw a bullish momentum bar appear in the form of a bullish engulfing pattern.
MACD and money flows are strong enough that price could continue higher and establish a new high.
stockcharts.com[h,a]daclyiay[d20050428,20050728][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G
Entry price $50.71. Price target $52.50. Initial stop loss $49.88.
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MSTR (short). MSTR formed a breakaway gap on increasing volume. MACD had been telegraphing weakness and price was extended from the 20 day moving average. When price is extended and you see increased selling, it is an indication that price and the moving average will meet.
stockcharts.com[h,a]daclyiay[d20050428,20050728][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G
Entry target $65.25. Price target $62.00. Initial stop loss $66.75.
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MHS (short). MHS is in a Stage 4 downtrend and has consolidated sideways below a declining 20 day moving average. The consolidation has seen larger selling bars than buying bars indicating additional weakness. Yesterday's bearish wide range bar into the bottom of consolidation is suggesting price is ready to start another leg down.
With negative money flows and a negative MACD, there isn't anything to stop this one from falling further, absent any market moving news. I will look for the downtrend to continue.
stockcharts.com[h,a]daclyiay[d20050428,20050728][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G
Entry target $47.20. Price target $45.00. Initial stop loss $48.50.
dabum |
