Because the market has been in a long-term down-trend...
-Find a stock that is in a new up-trend.
-A stock that has been beaten down and is now in a new up-trend.
*Tim's challenge* Find 1 thing to make your trading a little better than it is now.
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Because the market has been in a long-term down-trend...
-Find a stock that is in a new up-trend.
-A stock that has been beaten down and is now in a new up-trend.
*Tim's challenge* Find 1 thing to make your trading a little better than it is now.
After doing research, I was able to find a stock, actually a whole industry that I believe met this weeks criteria.
The industry is Casinos and Gaming. I looked at several stocks in this industry and saw a common trend. Most of these stocks started to fall around October of 2007, hit a low around mid July of this year, then changed to an up-trend continuing as of today. Most of the Las Vegas Casinos matched this pattern.
In short, I chose LVS (Las Vegas Sands Corp.). What's interesting is that if you look at LVS in Edutrader, it's pretty textbook if you ask me. Look at the candlestick on 07/15/08! To me, it looks like a "spinning top" indicating a potential change in current trend. Right away you see the up-swing.
I realize that I'm still fresh to trading and the market... but I just feel like the [img]graemlins/idea.gif[/img] 's are turning on in my head at an enormous rate!!!
Great Idea on the casinos....
I chose CTRP. Take a look.......
My stock pick was INFY. Reasons behind my choice were based on technical analysis of charts. The weekly chart shows a down trend which began at the start of 2007 and made a pivot upward beginning April 2008. The daily chart shows that resistance during the month of April has now become the new support which was tested during the month of July. Only time will tell if this apparent uptrend will really continue upward.
The stock I found was EXP. It's in the construction/raw materials sector. It recently hit a 2-year low in early July and has been in a up trend ever since. The fundamentals seem to agree. The new up trend definitely shows the higher highs and higher lows on the charts even though it's still below the moving averages.
My idea was to use trade seeker basic scan: broken above 50 day moving average. I found this stock: WLL. It stoped its up trend in the middle of june, went sideways a couple of weeks and started a down trend at the begining of July. On Aug 18 it broke its 20 moving average and is approaching braking the 50 moving average.
BTW, it is an oil and gas operation. The fundamental score is 51, but I am long term bullish on this sector, so this could be a trading candidate for me.
<font color="#a62a2a" size="1">[ August 20, 2008 08:07 PM: Message edited by: MathiasNYC ]</font>