Stocks: some breakout patterns I’m watching

Some of the stocks on my watch-lists are drifting towards trend lines suggesting that they could be gearing up for a breakout. As well, I’m noticing some rotation back into resource and material-related stocks and I’m not too surprised given the infrastructure focus current in the USA and China. Also, a few banking stocks are perky following the Trump victory and some tech stocks are too as the NASDAQ still holds above the key 5,200 breakout level. A number of these stocks have been quite beaten down over recent times and so some recovery activity could well be due.

NB: forgive my use of just ticker symbols but there are quite a few stocks to go through.

BAC weekly: a close and hold above $20 might underpin this stock:

bacweekly

AA monthly: any continued recovery with commodities might help to reverse the fortunes here. Keep a watch on the trend lines for any breakout.

aamonthly

AMAT monthly: $30 might become new support here.

amatmonthly

BBY monthly: a bullish breakout in progress:

bbymonthly

BK monthly: here too?

bkmonthly

INTC monthly: keep an eye out for any monthly hold above $35:

intcmonthly

MU weekly: keep an eye out for any new break and hold above $20:

muweekly muweeklyichi

NUE weekly: $50 looks like the new floor here:

nueweekly

WFC monthly: watch to see where the November candle closes but it looks bullish for now:

wfcmonthly

YHOO daily: watch trend lines here:

yhoo

ABT monthly: and here:

abtmonthly

CAKE monthly: a bullish breakout underway here? 

cakemonthly

DIS weekly: gearing up again?

disweekly

HRL weekly: watch trend lines here too:

hrlweekly

MGM weekly: watch for any new close and hold back above the $30:

mgmweekly

MS weekly: watch for any new hold above the $40:

msweekly

NTAP weekly: watch for any bullish continuation here:

ntapweekly

X monthly: keep an eye out here for any trend line breakout:

xmonthly

CBI monthly: here too!

cbimonthly

DAN weekly: and here too:

danweekly

DB monthly: here also:

dbmonthly

FCX monthly: keep an eye out for any continued recovery effort here:

fcxmonthly

PBR monthly: and here too:

pbrmonthly

TWTR weekly: watch trend lines for any breakout;up or down!

twtrweekly

VALE weekly: a long recovery ahead following the bullish breakout?

valeweekly

The post Stocks: some breakout patterns I’m watching. appeared first on Trade Charting.

The post Stocks: some breakout patterns I’m watching. appeared first on www.forextell.com.

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