Stocks I'm Watching Closely This Week 8/11/14-8/15/14

Home Depot ($HD) is very close to breaking out. I like it above $82.50 with the first target being ~$84.75. Stochastics just crossed and is pointed up. HD reports earnings Before Market Open (BMO) on 8/19. I like this one to run up into earnings as well. Stop at $77.70 where there seems to be good short term support.

Nordstrom ($JWN)is consolidating nicely after it's breakout in May on Q12014 earnings. RSI is perking up and is not yet overbought. I like this to run up into earnings, which are on 8/14 After the Market Close (AMC). My first target is $72.25. I do not ever recommend holding a position into an earnings report , due to the amount of risk involved.

Whole Foods ($WFM) looks to have found a lot of support around $36 after getting hammered in it's Q12014 earnings report in May. In the short term, all of the bad news seems to be baked into this name and it's still acting well. The long topping tale/shooting star candle a few days back was due to a rumor that Carl Icahn was starting a position, which turned out to be unfounded. I like this above $39.50 with my first target being ~$42.75. If $42.75 is cleared I like a push to the 200dma around $49. Stop at $36.

JC Penny ($JCP) has found itself in a channel between $8 & $10 for the past few months. I like this above $10 for a breakout of the current channel. Stop right below the 200 dma at $8.15. JC Penny reports on 8/14 (AMC). It may take their earnings report to breakout. I will not and don't ever recommend holding into earnings due to the amount of risk involved.

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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.

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