Stock pick for 12/22/2011
FAST - long
Technical view: I will use FAST 60 min consolidation for another buying wave and run to $45 what is equal move and number resistance area. Also we can see on the daily time frame that intraday consolidation for daily continuation pattern. Continuation pattern stop is usually under previous day low ($42.75), but if we won’t see pull back under 20sma 15 min we can use stop under $43.00 support area.
Stock pick for 12/21/2011
FIS - long
Technical view: Another bear trap and I like daily cup and handle. I will look for buying continuation and run to previous high or 200sma daily resistance area. Monday volume is higher and I will use intraday consolidation for trading plan. There are more similar charts, but I really don’t feel comfortable when to many charts are same and in that case I feel that some trick is around and because of that reason what trade I will take or not depends on bigger time frame charts and room for possible action
"I have been trading for over 5 years. I am continually impressed by Ivica's understanding of the market. He provides low risk and extremely profitable trading opportunities. His watch list is always concise and includes an overview of the market as well as very specific set ups..."
Debbie Groll
Stock pick for 12/20/2011
AAPL - short
Technical view: I found several similar 60 min bear flag setups. AAPL is one of them. I like to note that longer consolidation will decrease risk, but on the other side in situation like AAPL after setup we could see strong selling pace what will be daily weakness confirmation. If we won’t see stronger pace after setup then odds for false breakdown will increase. I like AAPL under 20sma 60 min and I will use stop above 200sma 60 min. Those two lines I use for trading plan. First strong daily support area is 200sma area.
Stock pick for 12/19/2011
TWX - long
Technical view: I know that someone can say: again cup and handle pattern. Look like we have many similar patterns out there. But TWX monthly continuation pattern was reason why I brought TWX on list for Monday. Friday volume was higher and break above $35.38 will be monthly continuation pattern setup confirmation. In that case we can look for possible few weeks swing trade and run to $38.50 (previous weekly high) and $40 resistance area. TWX daily bars can overlap a lot and because of that I used bigger stop then 15 min 200sma. Risk will be same; it will be just less lots.
Stock pick for 12/16/2011
Dear traders,
I didn’t find many ideas where I will bring trading plan before the open. I think that short side is higher risk and only what we could get is possible intraday short side only for day trade. I’m not ready to take swing short trade because I like to see more 60 min rest for lower risk. Because of that if weakness will continue my focus will be on intraday setups. On the other side there are no strengths to be more bullish and I will be caution. Generally, indices charts suggest being more patient. We had many calls last two days and now are time to be pickier. Under you will see several ideas and for all watch list ideas I want to see open action first before I will post trading plan. Generally setups are under or above pattern what I draw on line and that is not hard to calculate, but let’s see open first. At this moment I think that we will have slow upside day with choppy intraday action and weak upside pace. That is expectation and market will show us was that expectation right or not.
Wish you all nice trading day and don’t remember that for any misunderstand you can always contact me ivica@xpertstocktrader.com
Ivica
TMO - long
Technical view: I will say that is classic CCI divergence possibility. We can see 60 min consolidation and if TMO will stay in range after open we can use stop under $43.90.
Stock pick for 12/15/2011
ALK - long
Technical view: Daily chart clear show us consolidation after strong bounce from daily 200sma support area. Always after consolidation I’m interested for another wave. If we look at ALK 15 min chart we can see intraday range and that can be used for trading plan too, but that is more aggressive possibility especially if will be setup right after the open. In that case stop can be under $71.75 (20sma 15 min). I don’t know what kind of open will be but if 15 min range will continue then I will use it for stop and until then stop will be under $71. Weekly and monthly time frame charts support ALK move to new high. For now we can say that ALK is own way chart and that don’t care much about market action.
Stock pick for 12/14/2011
CHKP - short
Technical view: CHKP is something close to DTV. Monthly and weekly chart support swing short possibility and for that I will use daily triangle. Stop is little higher (daily 200sma) than usual because market is very tricky lately so I don’t want be stopped with small stop. That won’t increase risk because risk will be same and we will took less lots. It will be nice if won’t be setup right after the open because risk is always high when we have setup right after open and usually I avoid that.
