A slight bounce yesterday, here are a few stocks to look at.
CVX
Double Doji with a positively spiking OVI. The overall pattern is rather negative but CVX does tend to respond well to positive OVI readings.
AMZN
Poised for another breakout.
BA
Holding up well all things considered.
BIDU
Another breakout yesterday, I’ve been bullish on this for months.
F
The overall picture still looks positive.
FB
I’d rather pick this up on a pullback, but a decent pattern forming.
HPQ
Yesterday’s up bar on very weak volume. Not looking good for HPQ.
IBM
One more consolidating bar makes this a bear flag with a negative OVI. Up yesterday on weak volume.
MU
I’ve been bullish on MU for some time … still looks good.
SEE
Looks weak doesn’t it.
SLB
More signs of life for SLB.
X
Even US Steel is hanging in there. If it does pop to the upside in a meaningful way, this rather ugly consolidation will look quite neat. Lots of tall green volume bars suggests accumulation.
XOM
Really struggling (look at all the red volume bars). But it’s a Double Doji (like CVX) which could be interesting for a quick in-and-out.
Remember to stick to my rules, don’t dive in too early and do protect your profits quickly especially right now when earnings is around the corner and there’s all kinds of funky news what with the government shutdown etc.
More soon.
All the best
Guy