High Probability Setups – Week of 1/3/11
01/02/2011 8:42 pm 1 Comment
INTC
Started position on 1/31/10 and am looking to add if there is no breakdown. The stochastics are turning up and the underlying has been resting on the upward TL for 6 days. It’s holding the 50 ema with strength as well.
LLL
Will look for an entry when the stochastics pull back more. Probably Wednesday.
MU
I am anticipating a continued move this week. Looking to enter this in the morning on Monday.
S
This is a common breakout pattern called a falling wedge. I have found that sometimes it takes a while to play out but when it does, the move can be explosive.
WLP
This is another stock that will have an entry midweek although a small scale in on Monday or Tuesday would be a good idea.