While the markets continue to rise, more importantly the S&P 500, stocks should continue to see experience some upward momentum. Stocks that have seen an increased run higher, should see some type of pullback.
Many big names are scheduled to report their earnings this week, which could bring in more buyers or sellers, depending on how the news is received. Either way, here are a couple stock charts I am looking at.
Clearwire (CLWR) – Similar to the recent JASO move, the 200-day moving average has played a big part in supporting this stock – pretty significant price movements have come from the last couple of touches.
Look for this same pattern to repeat itself and buy on any strength as stock moves above the 200-day line.
Schlumberger (SLB) – Ever since oil started to gain steam, this stock has made a nice move higher. Should the cup and handle pattern hold, then look for a break of $67 with a price target of $71.
JA Solar (JASO) – It looks like the momentum in this stock is slowing down. Look for a breakout plus-6.25, with the next target at $6.75.
Bank of America (BAC) – It looks like this stock has created 3 significant zones. As long as we stay above $18, then this stock should be good to go.
Lexington Realty Trust (LXP) – This stock recently broke out above resistance, but volume could have been better. Buy on any weakness.
Developers Diversified Realty Corp. (DDR) – Pretty much the same play as with Lexington Realty Trust. Buy on weakness.
What stocks are you looking at?