1 First trading day in April, the Dow Jones has been up 14 of the last 17 times. Dow Jones has averaged a 2% gain in April since 1950. The whole week is historically bullish.
I found lots of good looking charts but these are my favorite:
VMW – I had a buy trigger on this one at $111.45 but I started light from $109.74 and I’m still holding. I am looking to add on any pullback, or a move above $113.80. The Weekly chart (posted below the daily) suggests we may see $125 on this one sooner than later.
FFIV – I have a buy trigger at $136 with good volume. There is gap resistance at $138.78 but moving above that we should see $145.75 before higher.
XLNX – Buy trigger at 37.75. Or you could buy 1/4 or 1/3 position here and add if we test the lower trend line.
XOM – Buy trigger at $88.00 — This one has been basing a long time. It’s getting ready for an explosive move. Watch for volume.
ALXN – Buy trigger at $95.05 with volume. Or you could start light and add if it tests the lower trend line again.
CNX – Watch for a move to clear this descending trend line with heavy volume.
CPB – This one cleared this descending trend line with heavy volume on Friday. Watching for a follow through day on Monday.
DIS – Buy trigger is $44.45 on above average volume.
ENDP – Nice bull flag. Looking for $39.90 on above average volume.
FDX – One could buy here for a low risk/reward entry. A stop could be a close below the ascending trend line.
LULU – Buy at $76.75 on heavy volume.
MHP – Cleared this resistance with volume. Watch for a follow through day.
NKE – Another good low risk/reward entry. Stop could be a close below this ascending trend line.
Enjoy the rest of your weekend. Don’t forget market is closed on Friday.
– @AffluenzaVirus
One Response to “Breakout Watch 4.2.12”
marketwizard
I really appreciate your list each week. Thank you.