What I'm Watching

Quote from IvicaJ:

I will look for 120 min triangle short setup. If will break weekly 20sma (Chart is on site) we could see more then $240.

Nice call :)
 
Chart of the week

Date: 07/26/2010

Symbol: OKE

Company Profile: ONEOK, Inc., a diversified energy company, operates as a natural gas distributor primarily in the United States. The company operates in three segments: ONEOK Partners, Distribution, and Energy Services.

Sector: Utilities

Industry: Gas Utilities


Chart explanation: OKE consolidate under 100sma on the daily chart forming triangle. I will look for breakup and back to previous weekly high. But before that OKE need to deal with $48 as previous high and because of that it will be initial target area for now. All will depends on pace and volume.
If anyone will have any question please feel free to contact me.

Long above: 46.25
Stop under: 45.45
Target: 48-50 area
 

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Chart of the week

Date: 08/02/2010

Symbol: WNC

Company Profile: Wabash National Corporation engages in the design, manufacture, and marketing of standard and customized truck trailers and related transportation equipment primarily in North America.

Sector: Consumer Goods

Industry: Trucks & Other Vehicles


Chart explanation: WNC form daily bull flag. Pace, volume and CCI support more upside action. Also monthly chart support it if WNC will break above 50sma resistance area. For now only tricky situation can be possible weekly double top pattern, but with daily consolidation after last week high odds for third buying wave on daily chart is good. I will watch pace, volume and CCI after setup and I will post all updates in the trading room.
If anyone will have any question please feel free to contact me.

Long above: 8.40
Stop under: 8.15
Target: 10 area
 

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