Small Cap Stock Picks Technical Analysis : 7/27/08
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Small Cap Stock Pick #1
First stock were looking at ???? we’ve traded before in the past for some solid gains. After some consolidations and their recent bullish earnings report and raised guidance this stock chart is on fire and looking to hit all time highs in the near future. Friday price broke its short term consolidation pattern with its high of day reaching its all time peak resistance but failed to breakout. Its very possible that we will see some profit taking from here down near the midpoint support in the 20-21/share range which is where i want to pick up some shares given the chance as i believe this should breakout to new highs given some time.
Day Trading set up #1
Here we are looking at the 5 day 5 min chart of ??? which is setting up a very bullish looking ascending triangle pattern with a neckline resistance at 2.05. If price moves up above 2.05 we could easily see a move of 10% or more IMO that we could capitalize on for a day trading opp. Take a look at the daily chart as well with the bullish hammer candle formed. I want to go long this stock on a move above 2.05 for a day trade.
