Stock pick for 12/27/2011
DLTR - long
Technical view: We took DLTR on Thursday pull back and at Friday we can see that 20sma daily bounce odds are interesting again. I know that is already on the monthly move but this daily opportunity is interesting and it is (for now) in line with my expectation for this week. I think that we could see upside action on light volume. Also if we look at intraday DLTR charts we can see nice consolidation and it can be used for day trade trading plan with stop under $83. I like that kind of ‘possibility because of DLTR will see setup then with trading plan can turn in to swing and in that case we could see great risk/reward trade.
PANL - long
Technical view: I like PANL for long above Friday high. We can see on the daily chart that PANL struggling with 10sma resistance area in hope that will be broken. It was third day with trying and odds for break up increase and because of that on my list is for long above $35.40 (Friday high) and I will look for run in to 20sma resistance area.
FSLR - short
Technical view: After new low FSLR started with rest (consolidation) and reached daily 10sma resistance area. It was first try and odds for selling continuation are fairly good and because of that I have it on list for short under Friday low, but also I follow intraday action and if won’t be some bigger surprises after open I will look for short under $34.50 with stop above $35, but I will tell more about that when we will see open action. If won’t be gaps then intraday trading plan will be interesting. We can see on the chart that consolidation pace is much weaker then selling pace what suggest for selling continuation. On the other side if FNSR will hole then odds for expectation what we have with PANL will increase. Conclusion: consolidation under resistance increase odds for breakup. If anyone will have any question about any of those ideas please feel free to contact me.
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