8 Great Stock Trading Opportunities

Charts show these stocks could be in line for massive breakouts

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man looking at stock chart concept 630 300x199 8 Great Stock Trading OpportunitiesThose who are inclined to trade, rather than invest, have faced a challenging environment so far in the second half of the year. While volatility has been high, the success or failure of most trades has come down to the latest headlines about Europe or Fed policy. But if the charts of a number of stocks in the large- and mid-cap spaces are any indication, the market is about to get much more interesting.

That’s because the charts of eight higher-beta names — all of which tend to be favorites of short-term traders — are near key levels. All of these stocks are in the territory between important breakdown and resistance points, indicating that moderate moves in either direction could set up a much larger trade. While in some cases the stocks have a long way to go to get to their key technical levels, all are fast movers that can cover ground quickly in this type of market.

As far as which way these stocks break, each chart tells its own story. However, an important factor to keep in mind right now is that the Fed — through the comments of its board members and Jon Hilsenrath’s front-page article in The Wall Street Journal on Friday — essentially is telling us that it’s a matter of if, not when, it will enact its next round of stimulus. History has taught us that this is a dangerous time to fight the tape, so it appears the wisest course of action is to focus on stocks set to break out rather than betting on protracted downside.

Here are eight stocks, their resistance and support, and the percentage move needed from Friday’s close to hit both levels. Also included are a handful of bonus stocks with charts that might warrant future research.

 
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Article printed from InvestorPlace Media, http://investorplace.com/2011/10/8-great-stock-trading-opportunities-cmg-gdx-goog/.

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