Good Morning, I was one out of two yesterday. I thought the Dow would bounce off its averages and it did, and more than likely will continue its uptrend today. Take a look at the chart (above). There is a mini resistance point where it has consolidated a bit and a higher resistance level. Looks like it will at least go up and hit its first resistant point today, we will read the chart tomorrow to see if it will follow through to its upper level.For my active stock, well it looks like it may go back and touch its support level, it had a false breakout as you can see by the stock chart(right). There was no alarming news on the stock, so I do expect it to bounce off resistance and start its way back up........just taking a little longer than I wanted it to.
Today I am purchasing a 1000 shares of NSM on a breakout level of 14.87 if it does not reach there I will not buy, reading the stock chart it looks poised to do so. The 13 day ema is crossing over the 21 day ema. Another good sign is that it closed at its highest point yesterday. The only thing I am worried about is that it will gap up too far at the open today and I will miss my order entry. I am looking for it to reach the 15.40 level.Other stocks that look good today(so check out the stock charts on these) are in no particular order: cfn @26.19,cien@14.90,s@3.49,nvda@16.96,duk@16.59,ek@6.07,wmb@22.12,amd@8.31,erts@16.99 and fitb@12.34. Remember I lead all my stocks that I purchase meaning it has to continue its upward momentum and trigger the trade.
Hope you find a winner today and until tomorrow......Happy Stock Charting!!!
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