Charts of Interest

Let’s take a look at some charts I am watching going into the next week.

Deckers Outdoor (DECK):

One of our more favorite trades as it had clear levels to trade against.  I noted on Stock Twits (WSConsensus) that DECK could now be approaching initial resistance around $35 and would expect a pause to refresh and that quick traders could take some off to look to re-enter.  Now the 20 Day SMA (green line) should be support and if you did lose some you could look to add.  This one is a potential Long Term trade but we always take a more conservative approach and lock in gains and use tighter stops.

Qualcomm (QCOM):

Took out the shorter term trend line during the lower volume holiday trading session.  QCOM could look to now target the upper trend line but if we see the markets reverse next week, QCOM should out perform but could get taken back down.  That will just provide beter entry to play the larger pattern and the quick traders might want to consider where to lighten up and definitely at the first touch of the upper trend line we would be exiting or lightening.

Staples (SPLS):

Not too much to say.  Still like the deal with Amazon (AMZN) and think this could be a long term turning point.  In the meantime I am just focusing on the potential trade into the gap with the 200 Day SMA above.

Cellcom Israel Ltd. (CEL):

Great trade so far.  This name has now almost doubled off the bottom so it could start to stall which is why I am noting a potential raised stop per the red line.  Otherwise this is a name that can have legs since it is so beaten and while facing increased competition which is squeezing margins, this is Israels largest cellular provider.

Expeditors International of Washington Inc. (EXPD):

Could be carving out a longer term bottom but for now the focus is just on a potential move into the $42 region which would provide a great trade.  There can and will likely be more trading inside the triangle but dips inside the triangle or a break and re-test of the upper trend line all all spots to technically look to enter.  The Weekly shows positive MACD & RSI divergence.

United States Steel Corp. (X):

You might start to notice that I can be somewhat contrarian and also look for broader rotations.  X falls into that category (so will coal later) and while the industry has headwinds the stocks have also baked a lot of that in. The weekly on X looks like it could want lower prices but that doesn’t have to happen and using dips to enter and then prudent stops should minimize risk.

R.R. Donnelley & Sons Company (RRD):

Right here a little more risky in my opinion but there is a tradable level on this very maligned stocks.  The company’s product sweet does seem to be trying to keep up with the technological times and I liked what I saw.  Throw in roughly $2 per share in cash and a 10% dividend yield (if they keep paying) and this company could be a bounce candidate.  This is one I will be watching for a potential Longer Term trade candidate as well.

Nxstage Medical, Inc. (NXTM):

Was a riskier trade on a Biotech from the get go.  Starting to push into initial resistance and raising stops to put the stock on a shorter leash.

Peabody Energy Corp. (BTU):

I like coal long term as a potential sector rotation idea but it will likely need more consolidation   The thought is that one could start looking to use oversold areas as opportunities.

priceline.com Incorporated (PCLN):

More just an updated chart.  This name has worked very well and now as we are hitting the upper trend line it seems prudent to consider taking some off if you have gains.  The expectation is that any drop from this resistance is only a pause that refreshes but why not lock in some gains?

Dollar Tree, Inc. (DLTR):

60 minute chart posted last week for a trade idea which has worked great.  DLTR is starting to reach the initial target region so traders have to decide what they will want to do with positions in here.  If the market moves higher, DLTR should participate and definitely can reach the upper levels of $44.50 but the market is extended in here so considering taking some profit and then using a wider stop like at even for the balance might be most prudent.

Advanced Micro Devices, Inc. (AMD):

This was a riskier quick trade idea in a name that has been very beaten and from what I show is trading right around cash levels.  Any good news could/should give a very nice pop in the name but I would be looking to use a move into the 20 Day and upper trend line as a spot to look to close the trade and/or take some off.  Stops on any remainder would still have to be the lows in my opinion so if you cannot handle seeing it turn that much on you then plan/trade accordingly.