Your 10 Trade Ideas For The Week Of 2-4-13

Coming into this week there are not as many potential setups do to the fact that most stocks are just extended like crazy as this market moves higher.  We are due for a pullback, but when that happens nobody knows.  Until then, use your charts to make sure you know where to place your stops and always practice good risk management.

$WLT is a holdover from last week.  If this isn’t a bottoming pattern then I don’t know what is.  Good risk/reward set up for a breakout over both the resistance level and the 200ma.

$PNRA is in a down channel, which it tried to break out of and failed.  This action should have cleared out all the stops, so on a second attempt at the breakout you get long above the $166.00 area.

After breaking into all-time highs $PIR is setting up a nice flag consolidation here.

NTAP Monthly

$NTAP Monthly

The top chart shows $NTAP consolidating right at a resistance level on the daily, and the bottom chart shows how that lines up with the top range of two-year down channel.

$NBR is bottoming here and providing a nice tight risk/reward zone for a break above a resistance level.

Remember when $C was going to go out of business?  Now its basing nicely below two-year highs as financials move higher.

BLK Monthly

$BLK Monthly

The top chart in $BLK shows a tight consolidation on the daily, and the bottom chart shows that in relation to its all-time highs.

BAX Monthly

$BAX Monthly

$BAX is consolidating nicely on the top chart, and the bottom charts shows that this level is just below all-time highs.

$ATVI is coming out of a down channel, pausing at the 200ma.  This could be the beginning of a trend change.

AFL Monthly

$AFL Monthly

Top chart shows $AFL consolidating at 52-week highs, and the bottom chart shows that in relation to the top of a large five-year narrowing pattern.

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