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.
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