CAMARO’s Watchlist for 3/20/13
S - I have been talking about S for little over a week now about this wedge pattern that was getting really tight and finally today S broke out. This stock could see a really powerful move in the next few weeks. This week I am target 6.40ish but over the next month or so a move to 7+ could be in the cards. The next major resistance is 6.45 (2 year high) but after that there is nothing til 7+ but you have to go back many years to see that zone. If you look at at 2yr chart there is a cup and handle pattern . The depth of the cup is about 2.50 so that would give us a measured move to 8.50 but that might not happen until later this year….takes time.
AMZN - On watch for a snap back trade for tomorrow. Just had 5 straight down days but today closed pretty strong and well off the LOD. Could see a move back over 260 tomorrow much like what GOOG did this morning.
GS - Watching this one for potential breakdown. There is heavy support at 147.50-147.75ish on a daily chart and the fact that the 8ma and 21ma are BOTH starting to curl down if that 147.50 level snaps GS could see some serious selling tomorrow . Also the 50ma is at 148.30 so again, if that gives up support tomorrow the more downward pressure GS will see. 143.50ish would be my target for the flush. Must break those levels I mentioned before I enter. It very well could bounce tomorrow and if it does I just wont play it.
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