Many traders are not liking nor enjoy trading under the current market conditions and I have to agree it has been a Day Traders Market Environment, but corrections are part of the market's trading cycle. The good news is that after a correction comes reversal (the UpSwing) .
Here are some stocks on my radar for next week - swing and core trades - day trading ideas as well do to on demand momentum build-up :
1. $CVX - Reversal in the making - a blast through resistance at $81.50 area would release buying pressure that would take the stock higher into $87.40, $93.50 and $95.00 target areas.
2. $P - a few weeks ago I was mentioning a possible reversal in Pandora (P). Hope some of you took advantage of the move higher so far. Another base is forming on the daily chart and the resistance tension is building in a minor resistance area actually from a previous low formed earlier this year in March; a break of this area ($22.00) can trigger a continuation higher into the $25.00 - $30.00 area. Good potential core and swing opportunity.
3. $ASNA - trying to breakout over $14.00 and it has plenty of room to follow-through, a first target is $15.00 followed by $16.00, $17.00 and last medium term target is $17.50.
4. $FB - continuing it's swing momentum higher. Swing traders can look to initiate short term momentum trades based on the 60 min chart. Follow-through room into $95.00 and definitely into $100.00 by the end of the year contingent on market higher.
5. $VRSN - attention all Core traders....any pullback buyable!!! Last week Verisign broke through daily and weekly resistance from back in 2001! The stock has the green light for a projected target of $100.00 and higher.
6. $NKE is doing it...are you? This monster trade is ready to go to new highs. Projected targets $150.00 and $178.00. If you are not owning this stocks watch the 60 min chart for an entry with a soft / flex stop. Strong support at $120.00 (minor support area)
7. $JASO - maybe ready for a reversal. $8.50 is the area to watch - a break through this area can bring a multi year reversal.
8. $USO - bullish over $15.25
9. $AAPL - Might be ripe and in season. Set support last week at $107.20 and on Friday it triggered a daily buy. Swing traders can take advantage of this aggressive entry. First target into $117.00 area and a break of that area has the potential of releasing more momentum to higher resistance (target) areas. I am bullish biased on AAPL into the end of the year (surely contingent on the market moving higher as well).
10. $HD - has been basing since late August and it is building up momentum since then. A break over $118.50 would send price into the yearly high at $123.80 and projected higher targets of $125.00 and core target is $148.00.
Other stocks on watch for bullish moves: $V, $JNJ, $DAL, $AMZN
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