Watchlist 11.26.12 | Let the Sparks Fly

“Whatever method you use to pick stocks…, your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed. It isn’t the head but the stomach that determines the fate of the stockpicker.” – Peter Lynch

This week is historically bullish except for Friday which has an average loss of .4% over the last thirteen years. The highly anticipated pullback that is expected Monday will provide all of these charts with interesting entry levels.

TWC – Long term ascending triangle. A pull back to the rising trend line or clearing the 50ema sets this one up for the gap fill. First target $98.17. Second target $100.50. A failure of the rising trend line is the stop.

COST – Testing this descending trend line. I am anticipating a pullback on Monday so my entry would be a test of the 8ema which is $96.75ish. Consider a 1/2 size position and add on a test of support ($94.50) or a clear bullish trend change on volume.

ROK – Bull flag/consolidation pattern on lighter volume the last two weeks. Watch for a move over price resistance with volume ($78.45) to start the next leg higher.

VMW – A healthy close over the 50ema on Friday. Watch for volume and price to clear this descending trend line for a technical bullish change.

UNP – Closed above the 10ema on the weekly chart on Friday. I am watching a pull back to the 8ema or a volume breakout over the volume resistance level of $122.75.

CELG – Cup & handle pattern. I may start to scale in on a move over $78.50 but the technical buy trigger is a move over $80.42.

APA – Currently trading under book value. Finviz is showing book/sh at $78.49. A few directors added to their positions & the Vice President of the company opened a new position of 4750 shares at $80.96 on Nov 6. My first target is $82.00 and my stop is a close under $73.00.

NUS – Higher lows being put in. My entry will be break of this short term channel with volume. First target is $49.00. Stop is a failure of the rising trend line.

ORLY – Showing a lot of strength and riding the 8ema for a few weeks now. If it can maintain these levels over $92.00 the next line of resistance is $94.82.