A couple of potential momentum setups going into Monday.
AIR broke out of a base and closed near the highs of the most recent congestion area:
With the announcement of the '16 Olympic host we saw a lot of activity in Brazilian names as well as beverage companies (PEP, STZ), here's ABV (also take note of VIV) at an all-time high (on a closing basis). ABT is poking out of a resistance level as a bullish engulfing candle, with gap-fill potential looming above.MCGC could be a little tired here. After breaking out of a cup w. handle pattern it may take a break to consolidate further, but may just forge ahead with a measured move and overhead gap-fill.RINO had a big momentum push lately and seemed to be finished. But volume stepped in Friday to buy the dip back to $18, was someone tipping their hand?
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 email@example.com
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