Potential Trades This Week: Speculative Stocks Receiving The Best Action
Referencing the weekly homework and stock radar, I am highlighting a few of the charts below for potential trades in undervalued stocks.
We had a gap-down to start the week off and as usual in this new environment, the bulls came to the rescue. With the Greek deal far from agreed upon, many thought today was the day we’d finally receive some weakness which would hopefully reset the many overbought charts. Instead, the trend for the past few months continued yet again. A gap-down finds enough dip buyers that it can not break to new lows, so we drift north for the rest of the day towards even. This action is not helpful for traders as we must be extra selective with our capital keeping trades either smaller or fast and aggressive as we trim into the close rather than hold overnight. (more…)
