With the market clearly trending lower and stuck in the August trading rut, I’ve decided to open up my watch list for today’s trading to give you a list of stocks to keep an eye on for potential movement ahead. Plus, I have exciting news at the bottom of the post! Take a look..
1. $ABX
Barrick Gold Corp ($ABX) is beginning to show signs of weakness at a major area of resistance at around $47.20. This stock also has Cam 5 pivot-based resistance above and has also formed a bearish wick reversal candlestick. We could see a drop back toward $44.40.
2. $CMG
Chipotle Mexican Grill ($CMG) has been testing resistance at all-time highs at around the $155 level the last three months. The stock is beginning to turn down off this zone, which also happens to be the important H3 Camarilla level. A drop back toward $141.75 could be seen ahead.
3. $TLT
The $TLT iShares ETF has been trending higher since April, during which time the price has rallied from $87 to $109. The PEMA Pull-Back signal has fired five successful signals during this period of time and has just fired a new signal after yesterday’s trading. Look for a push to new highs ahead.
To learn more about the PEMA Pull-Back signal, download my FREE 50-Page eBook HERE!
4. $CME
CME Group ($CME) has been a highly bearish stock ever since April. I first issued a sell in the stock at $304 HERE and it has continued to drop ever since. $CME is now forming a lower high beneath major support and has formed a bearish Outside Reversal pattern. Look for a push back toward prior lows, or lower.
5. $HLX
Helix Energy Solutions ($HLX) has been extremely bearish since April. Every short term rally has been a cause for selling pressure, which could be the case again after the recent bump from $8.40 to $9.80. A bearish Extreme Reversal setup has also formed, issuing a sell signal. Look for a drop back toward prior lows.
Did you hear my exciting news?
My book, Secrets of a Pivot Boss, is finally in my hands!! Very exciting news for me, and hopefully for you, too. I’m flipping through it now – and it looks amazing!
Click HERE for more details!
Cheers!
Frank Ochoa
PivotBoss.com
Follow Frank on Twitter: http://twitter.com/PivotBoss