Trading candidates

[hi5]

Many of us must be pouring over charts on a nightly basis looking for good trading candidates. Anyone willing to compare notes? (please include reasons for selection).

With the market still in a down trend, I am focussed on candidates to short and here's my selection for tomorrow:

CTM - established downtrend since Feb. Closed today at 628, just below resistance at 630. Support at 506.

ICI - closed today at 393. Resistance at 397. Support at 350

Comments on the above welcome. Better candidates even more welcome!

Dave
(no investment advice intended. Do your own research)

 

[Riz]

Hi Dave,

No suggestions I am afraid as I've stopped trading for a while, till I convince myself it's not 100% gambling...

Just wanted to add that CTM tested 595 intraday today and bounced back up on both occassions...that level might be worth to watch when holding short positions...if it doesn't hold and the market sentiment still negative...then happy shorting I'd say..

Riz

 

[ChartMan]

I have 2 long candidates..........
BAY, double bottom and a lower high on RT charts.Buy at a trend break above 318 OR wait till resistance at 330.
STAN buy on restance break above 880

Sorry no more details it's too late, but look for yourself...

 

[Riz]

been watching bay...the only reason I didn't get in around 300 was because I'd decided not trade under these circumstances...agree with Chartman on bay...worth watching closely

Riz

 

[Cigar]

agree with BAY. Been watching for a few days. Wait for some bigger volume days, for the accumulation. I don't think its there yet.

I've been out of the market for ~6 weeks now. I typically hold for 10days+, and you can't trust this market to stay positive (or even flat!) for that long.

Using my scanning strategy (bottom fishing), I think I've had one good signal in those 6 weeks (ARM, a couple of weeks ago)

So I'm having a rest like Riz

 

[darth trader]

nice idea.


I'm rather busy at the moment but will contribute when soon when I have more time available.

Darth.

 

[izzie]

daily research

If scalping, I find it hard to beat BHM on a FTSE-up day; but looking also at CCH and CW

swing trading maybe CAT, 28% rise to its resistance I reckon.
IPR has 16% rise to resistance
CAP has 17% with some good news into the bargain.
All 3 looking good charts.

Currently doing OK longer term on ITL, DEB

I prefer scalping, deals around 7-10k at moment, but playing safer currently, not dealing every day.

 

[esiotrot]

re. STAN

I've been watching STAN for somewhile waiting for the moment. However quite when (if) it's coming I do not know.

While showing a small recovery now the volumes are decreasing showing lack of substance in this current small uptrend.

I like Bollinger Bands and the upper band is still dropping like a stone such that another 50 points on the price will hit the upper band around 920/930. If STAN can hold this then just maybe...

Peter