June was a slow and frustrating month for traders. There were few opportunities and little follow through on those that came up. It was a good time to focus on things outside of trading which is what I did.
As we move in to the middle of July, I see things picking up. There seems to be some light at the end of the tunnel on the Greece issue and second quarter earnings announcements will drive some action in individual stocks.
Today I ran the Stockscores Simple US Market Scan in search of position trades. I wanted to see daily and weekly charts that showed good potential from the scan results. Here are three stocks that I think are worth considering:
GES recently broke its downward trend line and is now breaking higher from a rising bottom. This is a good turn around chart pattern. Support at $19.
HQH has been building an ascending triangle pattern over the past four months and is now breaking through resistance from that pattern. The stock looks like it wants to continue its long term upward trend. Support at $35.25.
ALK has paused its long term upward trend for about five months but came alive again Friday and looks like it will resume the long term upward trend. Support at $64
For the entire StockScores Newsletter Tyler lays out 10 points – “How Information Can Hurt You”