Last week was a choppy week with markets rallying early on and then fading as the week ended. The net effect was a lot of false starts and sideways action with our trade set-ups. We have a large number of stocks in the "watch" category and many of them are in an area where a sudden reversal or breakout would generate an immediate "buy" signal. Several generated buy signals on Friday but then faded into market close. I have labelled those that attempted to break out as "buy/watch" because they appear most ready to go if the market cooperates. I have added six new names as well, which broke out and generated "buy" signals.
I would like to caution traders to be wary of the broad market action because volatility can quickly negate a good set-up and cause a trade to stop out. This trading environment is a little more challenging than it has been so it is important to know your limits.
"Buys" and "Near Buys" Below:
Have a great week!