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July 27, 2005
Chart Setups
Here are potentially bullish setups from a recent screen. Standard disclaimers apply: use at your own risk.
CHIR - Chiron can't quite make up its mind. A triangle formed over the last six months. Watch 37.5 up and 34 down.
EDS - Well, what's it going to be boy? EDS surged in May and then consolidated in June and July. A break above the May high (20.1) would be bullish and a break below the June low bearish.
NWAC - This is still a bottom picking play, but signs of a rebound are appearing. The stock recovered after the move below 4, surged on good volume in early July, formed a falling flag and broke the upper trendline with good volume.
NWAC - This is still a bottom picking play, but signs of a rebound are appearing. The stock recovered after the move below 4, surged on good volume in early July, formed a falling flag and broke the upper trendline with good volume.
NYB - After basing around 17.5 for the last seven months, NYB broke resistance with good volume. This bank has a nice dividend and the breakout signals a move to 21.
RSAS - Here is a nifty little trendline break on above average volume. The stock held firm at 11 after the 30-June and 22-July down gaps. A break above 13.5 opens the door to 17-18.
Posted by Arthur B. Hill at July 27, 2005 08:54 AM