Monday, January 16, 2017

1/16/2017 new stock pick

My scan system gave me several picks this weekend. I manually choose 2 to share here. The first one is Hewllet Packard Enterprise (HPE). This stock is in uptrend since spin off. The daily chart showed it still runs in a uptrend channel. And recently the price touched the lower trendline and bounced up. Although several short terms MA act as the major resistance.  I believe there is high probability that the price will break out to previous high or top trendline.
The weekly chart showed the price got supported twice on 21 weeks EMA. The price runs in a smaller down trend channel (bull flag). The break out is pending. The price is ready to move up. 
Where to buy on 1/17/2017 market open? My personal idea is to buy between 22.7~23, stop below 22.2.

The next one is a grocery store Kroger (KR). The price get supported by uptrend trendline multiple times and it broke out downtrend resistance trendline. It also break out 200 days MA. All short term MAs act as support to pop the price up. First resistance around 35, after that, the 36 level will be challenged. Step by step, it may go higher.

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