Greetings! Here are the stocks I am looking at for tomorrow.
As I mentioned in my previous post, I think the market will continue upward, it’s just more of a matter of when. I don’t think there is much to drag the market down at this point, but you never know. As a result, almost all of my trades are bullish aside from SLV.
So let’s begin with FSLR. This stock just looks flat out strong. I know we have a wick staring us in the face, but I think the real target is the higher wick at 58.93. We are above the MAs and all the indicators are turning up. I would like to see MACD cross bullishly, but other than that the signs of bullishness are there. This will be a 15min entry. My stop will be where the two trend lines intersect, at 53.70.
WYNN: If you trust this trade, it has a very nice risk/reward ratio. Indicators are turning up, but again it would be nice to see MACD cross bullishly to confirm the resumption of the bullish trend. This one is a 15min entry. I like the looks of it. Let’s see if the market cooperates.
SLV: This one could either be a double bottom or the breaking of resistance. Right now I am looking for it to break support and enter on a close below 20.72. If that does happen, then the next target is 19.36. Again, I would like MACD to turn down to support the trend, but stochs have turned and RSI is supporting.
Lastly, we have DNKN. MACD crossed today (just barely!). The other oscillators are pointing upward, we are above the MAs and today was a low volume day. I think this guy will be bullish even it takes a week or so to reach the target. This is a 15min entry for me with a target of 42.58 and a stop of 40.65.
Best of luck to all and happy trading!