Weekend Watchlist Part 1

Now that the week has finished and the weekly charts can be finalized, I have a list of (at most) 24 stocks that I’m going to run through in a series of posts.  I will be posting the weekly charts here.  Additionally, clicking on the ticker symbol will take you to the link to daily charts that I have posted on chart.ly.  My comments following the ticker are similar (or the same) comments that I made on the chart.ly posts.  Please keep in mind that my upside outlook for all of these stocks is for very short term (3-10 day) swing trades unless otherwise noted.

$ABV: I’ll be waiting for a pullback between 28 and 29 to potentially start a position in this.

ABV Weekly

$HNZ: This is one of the best dividend paying stocks out there.  On a pullback to 48, Heinz yields around 4%.  In addition, they are consistently increasing payouts, so I am looking to start a very long-term position in this stock.  Even with that information, I think price will be buoyed around 48 anyway, so it could be ripe for a quick trade on top of the long-term position I’m looking at.

HNZ Weekly

$KO: The daily range has been abnormally large over the past week, but the weekly chart still looks pretty solid.  I’d like to see an orderly pullback to the lows between 64-65 before I would think about initiating a position.

KO Weekly

$SINA: There are two areas I’m currently interested in observing: first, a descending trend line lurks in the 110-113 area.  I want to see how the stock acts if/when it encounters that area.  If that price is rejected, I will be interested in possibly starting a position on a reasonable pullback to the 84-90 area.

SINA Weekly

$LVS: This is one crazy looking pattern going on right now as the stock basically crashed down to the 37 area then completely reversed in a matter of 4 days all the way back to 44.  I don’t think that kind of behavior is at all normal or constructive.  Either 44 is a fair price for this stock or it’s forming a ‘bear flag’ and is going to be revisiting the lows around 36-37.  I’m actually looking to short this one in anticipation of that move.  I would cover and think about opening a long swing in 37-40 region.

LVS Weekly

$YUM: Another potential bear flag in the making here.  I think it’s going back to 50, at that point I’m going to assess the situation and think about starting a position.

YUM Weekly 

Stay tuned, I have about 18 more stocks that I’m keeping an eye on…I’ll get around to posting my thoughts on them later this weekend.

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