June 29, 2017

Charts to Watch

Today was a tough day for the Bulls but there are still some charts on the long side which interest me.  They may not all be ready to go here and now but represent a mix of sectors and situations.

Expeditors International (EXPD) could be setting up a longer term trade opportunity but first I want to see the 200 day SMA hold as support.

Amgen (AMGN) acts well in what looks to be a longer consolidation pattern.

 

Abercrombie & Fitch (ANF)  Potential Inverse Head & Shoulders pattern but wants to see 200 Day SMA hold

Apache (APA) Still a favorite but needs to show if the recent drop is only an opportunity or if this one needs more time to develop.

Avon Products (AVP) Potential Inverse Head & Shoulders pattern but wants to see 200 day SMA hold

Arch Coal (ACI)  Strong push up is now flagging.  I want to see the 50 day SMA hold on any retracement, otherwise this could be another false move.  We have been stalking this one for a while it seems so don’t lose sight of it now that there is some life!

Cliffs Natural Resources (CLF) Like ACI, strong push and now flagging.  Today bounced right off the 150 day SMA.  Want to watch the 20 day and see if it can get up to the price and then if it acts as support.  If CLF is going to go again it might not wait around for long.

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