March 21st, 2017 Watch-list
Hey traders! Basically an even day for the market as we post a doji candle on the daily chart. The last few days we've been hugging that ascending 20sma. With that said though, we are at a point where unless we see a solid green day, the 20sma is going to end up breaking above the current level for the DJIA. A solid break and close below the 20sma could signal a move lower to the 20,500 level potentially. Daily chart for the DJIA below with key support and resistance labeled for review.
Current Open Positions:
LC: Small green day on this one as we appear to be potentially recovering from the red day yesterday. We're finding some support right at the 200sma and 20sma. If we can hold these levels, could see another push topside again for the few who are in. Chart below for review.
UFS: Nice 1.05% gain today. We were able to break and close above the 20sma which is a nice short term bullish sign. Next key break, $38.54. Chart below for review.
ECPG: Little red day today here. We were seeing this one make a nice solid topside move, however the past 2 days have seen a small pullback. The 50sma and 20sma appear to be acting as strong areas of resistance here and are going to be key breaking points. Chart below for review.
KRC: Great move on this one the past few days as we've now gone up and broken our initial profit target. For those who locked in profit, great job! For those who are still in targeting our second target, considering kicking in a 1% trailing stop on quote order to reduce risk. Chart below for review.