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The day-to-day volatility in the market has been pretty intriguing to say the least. Just when it looks like the rally is about to end, more green days come around.
The key is to watch pullback levels and areas of support, wait for breakouts/confirmation, and execute trades. It is very important to remember not to chase any big moves. There will be more opportunities to cash in as those stocks pullback again.
Below are a few stock charts that I feel could make some nice moves within the very short term. Lets see what happens. Remember to keep stops tight.
Bank of America (BAC) – This stock has been teetering around the confused zone, but continues to remain in the buy. A nice bounce of the 50-day moving average combined with RSI shifting back over 50, could see a nice little run here.
Netflix (NFLX) – There isn’t much to say about this stock, then what I have continued to pound. $100 seems to be the nearest support.
JA Solar (JASO) – Looks like a decent break out of a downtrend channel. Look for a price target around $6.50.
Zale (ZLC) – A nice wedge/coiling pattern. We need a break, and, if it is higher, look for $3.90ish.
For more clarification, check out my stock charting tips.