Too be honest, I have no idea how the overall market has performed over the last couple of days; rather, I have been paying more attention to individual stocks and noticing what what setups have been created. That being said, it does look like the market has been gaining a little bit of steam.
Below are a few charts I am liking right now. Make sure to also check the archive of my stock picks has many of those are still in play too.
JA Solar (JASO) – The stock has been hanging around the 200-day moving average, but like history has taught us, JA Solar likes to create separation from this average (often).
Clearwire (CLWR) - This stock has receded a bit since hitting the resistance around $8.50, now lets see which way it pops out of the triangle.
Schlumberger (SLB) – I believe this stock has been unfairly hit by the whole BP oil spill. Obviously, we can see the nice rebound it made from it’s most recent bottom. Look for continuing upward movement with some resistance around the moving averages.
Caterpillar (CAT) – This stock has made a great move after bouncing off the 200-day moving average and seems to have broken through the 50-day moving average (still waiting for confirmation). Should it hold above the blue line, I like the price targets of $68 and then $72.
