Last Friday, we featured HON, JNPR and ATML.
HON was not triggered on Friday, and I will not continue to stalk this one today.
The buy setup was triggered on JNPR and today we'll see if it can continue on to the first upside target, the January 27 swing high of 30.22. The stop loss should be raised to Friday's low of 28.15. Intraday traders can look for buy setups above Friday's high.
ATML did not trigger. Traders who want to continue pursuing the buy setup here should lower their buy stop to Friday's high of 7.18 with an initial stop loss of 6.90.
BRCM failed on a test of top, and for intraday scalping, a break of last Friday's low will have us looking for sell patterns on the 10 or 15 minute charts in case it heads down to test the January 23 swing low.
CHKP is right at the do or die point. We can call this a very marginal classic bull flag since volume has been contracting all the way since the January 20 swing high. Again, the buy stop is triggered on break of last Friday's high, and the initial stop loss should be placed at last Friday's low. The upside target is the January 27 swing high, but this setup is really ugly.
CPWR formed a bull flag and began to head back up last Friday. For intraday traders, look for buy setups above last Friday's high in case it continues up to test the overhead target of the January 26 swing high. ADX is extreme on the daily chart at over 47, but the fact is that this is a cheapie and it's not been rallying for a long time, so Greater Fools may rush in on this one.
This is a potential spike top on HAL that setups up a small hit and run swing trade on the short side. I will sell short on break of last Friday's low. There are two placed to put the initial stop loss. One is just under last Friday's high; the second is to use the day's high, whatever it might be when the short sale is triggered. I will use the tighter stop and only take this trade home IF it closes near the low of the day.
04.02.02 09:04 #