Stocks I'm Watching the Week of 10/6/14 - 10/10/14

The NYSE McClellan Oscillator briefly touched grossly oversold (>80,<-80) territory intra-day on Thursday, but got a big bounce on Friday after a great jobs report. We finished the week still in bearish territory, but think we will see a push above the 0 line next week. The market dipped down below it's 100 day simple moving average, but held all important trendlines & appears like a normal correction at this point. We are not necessarily out of the woods yet on the downside, but in my opinion we are headed higher. Onto the stocks I'm watching this week.



Wellpoint Inc. is in the healthcare sector, which has been one of the best performing sectors in 2014. After almost touching it's 50 day simple moving average last Thursday, it gapped up and held on Friday gaining almost 3.5%. I watching $WLP Monday for a break of Friday's high around $122.50. My stop will be placed right below the low on Thursday at $116.75.

Signet Jewelers Limited has been acting well in 2014. $SIG also tested it's 50 simple moving average, but bounced off of it beautifully. I like it above Friday's high with an entry at $117; stop will be placed right below the 50 day simple moving average at $110.75. I'm looking for an eventual breakout to new all time highs at $119.25.

AbbVie Inc. was spun off from Abbot Laboratories a little over a year ago. $ABBV also briefly touched its 50 day simple moving average and bounced off of it convincingly with good volume. I like this above $58.78, with a stop placed below the 50 day at $55.61. I'm looking for an eventual breakout above $60.

JP Morgan Chase & Company has been building a base around the $60 dollar range. It fell on news that they had some of their online accounts hacked last week. The overall market was also under a lot of pressure, which had a lot to do with most of the selling recently. $JPM found some footing on Friday and then some; closing up 2.48%. The stock looks like it wants to test the $61.50ish range again in the near term. I like it above $60.38, with a stop placed at $58.50.

Mercury General Corporation is a major insurance company. $MCY tried to push through it's 50 day simple moving average on Friday, but failed and formed a nasty shooting star candle. Shooting stars are great bearish reversal candles in my opinion, especially at the end of an uptrend or if another factor is present (failure to capture it's 50 day simple moving average in this instance). I will sell this if it breaks below $49.55, with a stop above Friday's high around $50.50. I couldn't just leave you with all bullish setups for the week :).

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Stocks I'm Watching the Week of 9/22/14 - 9/26/14

The McClellan Oscillator bounced this week from Oversold territory of -62 to close the week around -28. I think we could see one more downswing from here in the short term, but overall we are setting up for a nice push higher. There is still a negative bias since we are below 0 and are pointed down due to Friday's action. Onto the setups I like for next week...



It looks like it's time to revisit Facebook Inc. due to it's relative strength on Friday. The daily chart is showing a nice setup that looks like it wants to push to new all time highs. $FB recently tested it's 50 day simple moving average and bounced off of this support beautifully. All indicators looked prepped for a breakout and we saw very heavy volume on Friday. I like $FB above $78.30 with a fairly tight stop at $75.50.

The Container Store broke out of a nice wedge pattern on high volume Friday. $TCS has a huge gap to fill up to $27. I like $TCS to continue the momentum if it can clear $24. Stop placed at $22.50.

Energy Transfer Equity, LP has a very bullish looking chart. $ETE looks to have found some near term support right below it's 21 day exponential moving average. $ETE was up about 2% on Friday on high volume. MACD & Stochastics look very bullish here, and I will start an entry at $62.80 (Friday's High of the Day) with hopes for a breakout above $63.50 to new all time highs. If it can breakout above $63.50, my first target would be $67.

Garmin Ltd. pierced it's 200 day simple moving average on Friday in convincing fashion (on heavy volume which is very bearish). $GRMN looks like it will test the $50 dollar area of support again. If it dips below near term support, we could see a big breakdown. I will sell this on a break of $52.04 (Friday's Low of the Day) with a stop placed at $54.30.

Priceline Inc. has been acting very poorly over the last month and a half. $PCLN formed a dark cloud cover on it's daily chart Friday. There daily chart also looks like it might have formed a bear flag with RSI pointing back down. I will sell this if it breaks below $1185 with a stop placed right above the 200 simple moving average around $1225. In others words, I'm about to short the Shat :).

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Stocks I'm Watching the Week of 9/8/14-9/12/14

My favorite macro market gauge NYMO (McClellan Oscillator) closed at 6.92. Bulls look to be in control, but we could see another leg down with some selling pressure still existent. The market just seems to be churning higher for the time being. There has been some good action in both directions. Onto my favorite setups for the week, and more specifically, on Monday.



BioDelivery Sciences International, Inc. has a beautiful looking setup on it's daily chart. The stock spiked on Friday on great volume. RSI is pointing upwards and looks like it wants to continue. I like $BDSI above it's high from Friday's candle at $16.39. I'm looking for a breakout to all time high's at $16.80. Stop will be placed at $15.85.

Coupons.com has a nice looking bull flag on the daily. This looks good for higher prices if it can pierce $16.49. Stop on $COUP at $15.90.

Facebook is a company I'm sure we are all familiar with. The stock is looking to breakout to new all time highs. I like $FB above $77.50 with a stop at near term support around $75.60.

Procter & Gamble has been acting really well as of late. $PG looks to be forming a small cup and handle pattern on it's daily. I like this above $83.83 with a stop at $82.60.

Gap Inc. had a nasty breakaway gap down on Friday. $GPS is currently oversold on all time frames, so I'm looking for a small bounce first thing Monday to around the $44.88 area to sell into. My stop will be placed at $46.85. My first target is the 50 day moving average around $42.

Springleaf Holdings Inc. formed a shooting star candlestick pattern while in an uptrend on Friday. I'm looking for a weak bounce to $34.89 in $LEAF to sell into. Stop will be placed at $35.90.

Stocks I'm Watching Closely the Week of 9/2/14-9/5/14

I'm going to get into the habit of posting the McClellan Oscillator (NYMO) at the beginning of each post. On a macro level, this is what I monitor to get a sense of the overall market. It is a very useful tool to gauge a trend reversal when it gets into the heavily overbought and oversold levels (-80 or below, 80+). As you can see the market is overbought in the short term, but consolidating right below the heavily overbought area. The advantage goes to the bulls at the moment. Onto my watchlist...



Palo Alto Networks is a cyber security company, which has been a very hot space as of late. $PANW formed a morning star on it's daily chart. I like this with an entry above the high from Friday at $85.64; stop placed at the low of the star at $79.70. All time highs are right above at $87.79 so that is my first target. Looking for a breakout above this eventually, assuming the market cooperates.

TrueCar Inc. has only been trading for ~ 3 months (IPO was in Mid-May). Be careful with this one as newer issues are seemingly always more volatile. They are trying to bring transparency to the car buying experience. $TRUE looks like it wants to break into new ATH territory around $22. I like this above $20.93 for a test of that $22 area.

Howard Hughes Corp. is a real estate owner lease manager (OLM). $HHC formed a bullish engulfing candle on the daily inside of a bull flag. It also bounced beautifully off of it's 21 day exponential moving average which looks like pretty strong short term support. I like it on a break of the flag and above short term resistance around $159. I think this name will push into new all time highs with my first target of $161.

Liberty Global is the largest international cable company. $LBTYA formed a bearish engulfing candle on it's daily chart on good volume. It also possibly formed a near term double top; time will tell. I will sell this on a break of $43.57 (Friday's low) with a target of it's 200 day simple moving average around $42.63.

Kandi Technologies is the "Chinese Tesla" if you will. $KNDI the largest producer of electric vehicles in China. KNDI tanked on Friday on very heavy volume. I'm placing my bets on the short side if it breaks near term support at $17.55. Stop will be placed at $18.50. If it breaks it's 50 day simple moving average with conviction, it might test it's next support level around $15. It's easy to be a bear when you see their product below lol. Call me vain, but that guy looks redonkulous.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Stocks I'm Watching Closely the Week of 8/23/14-8/27/14

Twitter is still acting great ever since their 201402 earnings breakout. Investors wanting a loose stop can comfortably put one at $42.75; while more aggressive traders can place one around short term support of $44.30. $TWTR announced that they will launch an E-commerce platform after the market closed this past Friday. This could result in a gap up Monday morning. My first target is $48 for this name, but I like for it to breakout above $48 as well, and think we can see low $50's in the near term.

YY Inc. is a "hot" Chinese internet stock. $YY bounced off it's 21 day exponential moving average and formed a bullish engulfing candle on the daily chart and also formed a bullish engulfing candle. RSI is pointing upwards and all time highs are just above at $89.70. Entry is placed slightly above the bullish engulfing candle high ($87.93), stop at $84. I'm looking for a breakout and potential push to $100. $90 is my first target.

Proto Labs Inc. is one of the larger (market cap of 2 Billion) 3D printing names in the space. $PRLB formed a piercing line candlestick pattern on the daily after a steady short term downtrend. I'm watching for confirmation of the bullish reversal and will enter on a break of the top of the candle at $77.36. Stop at $75.80.

Huntsman Corp is a major diversified Chemicals company. $HUN formed an evening star candlestick formation on it's daily chart, and also closed below it's 50-day moving average which it hasn't been able to recapture with any conviction since a Mid-July break. Stochastics just touched overbought territory and are now pointing down. My entry will be at $27.12 (right below the low of Friday's candle) assuming it doesn't gap down too far. Stop at $27.80 (top of the star) and first target is $25.75.

BJ's Restaurant Inc. is competing against the likes of McDonald's, Starbucks, Yum, etc. No small feat. Equally as worrisome is the bearish engulfing candlestick it formed on Friday after a nice uptrend. It also appears to have possibly formed a near term double top, albeit a fairly crude looking one. I'm watching for confirmation and will enter $BJRI on a break of Friday's low at $35.70. Stop at $37.25. Last but not least, is it me or is that a horrible name for a restaurant? Maybe I should get my mind out of the gutter...

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.