Sunday, June 13, 2010

Chart patterns indicate bullish turn?

These two powerful stocks from the airlines sector broke out beautifully on Friday. I had been eyeing these stocks for sometime now but did not add them to my official watchlist because they did not have the typical CANSLIM fundamentals.
However, it is now undeniable that based on the recent price/volume behaviour and chart patterns that these two stocks have formed that there are bullish forces working in this sector. Atleast in the short term.
So if you missed the opportunity to get long of these stocks on Wednesday or even on Friday then have no fear I believe these stocks can be purchased for profit at higher prices. So add them to your watchlist and keep an eye on them for the setup of your choice.
Good luck and good trading!

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