Some setups to watch next week.
BHI; large volume breakout from a base.MBFI; testing resistance (previous support) in a flag pattern. Price closed at the highs on Friday, strong volume.KLAC; basing at $35.5
GIGM; big volume came in on Wednesday and has since consolidated tightly in a flag.NOC; broke out of a long-running base on Thursday with follow-through on Friday, could be a runner.GLS; nice big volume, price closed on the highs Friday, looks like buyers liked the dip below $8.SCSS; sorry for the crappy image, I can't stretch the chart the way I wanted. This one broke out of a flag after coiling into two nr7 bars. Could run to $6.
LZ; all-time highs, perhaps flagging for more.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.