Watchlist: UNP, V, EOG, ABX
I caught the flu bug (yet again) and the last few days was busy with Chinese New Year and getting as much rest as I can. But I reckon I didn't miss much action in the stock market as it was pretty much range bound the last few sessions. Today, we'll have the FOMC policy statement and the market should have a clearer direction after this.
No charts today for this post, but here's some stocks you can watch out for:
-Union Pacific Corporation (NYSE:UNP): Approaching horizontal resistance at $45-$46. This level also coincides with the 50% Fibonacci retracement from prior swing high to low.
-Visa Inc. (NYSE:V): Recorded a new low in recent session. Looking like a bear flag. A successful break & close below $42.5 would indicate another leg lower.
-EOG Resources, Inc. (NYSE:EOG): Higher lows and support at $60, making of a descending triangle. Watch for break of $60 for confirmation
-Barrick Gold Corporation (NYSE:ABX): If you're still liking gold, wait for a pullback to about $32.5-$35 in this stock before considering dipping into the uptrend channel.
Edit: Here's 2 complimentary videos from MarketClub:
-ABX Barrick Gold Analysis
-All Wound Up Over Gold
As you know, we're in the midst of the earnings seasons, so please do check earnings date for swing stocks.
No charts today for this post, but here's some stocks you can watch out for:
-Union Pacific Corporation (NYSE:UNP): Approaching horizontal resistance at $45-$46. This level also coincides with the 50% Fibonacci retracement from prior swing high to low.
-Visa Inc. (NYSE:V): Recorded a new low in recent session. Looking like a bear flag. A successful break & close below $42.5 would indicate another leg lower.
-EOG Resources, Inc. (NYSE:EOG): Higher lows and support at $60, making of a descending triangle. Watch for break of $60 for confirmation
-Barrick Gold Corporation (NYSE:ABX): If you're still liking gold, wait for a pullback to about $32.5-$35 in this stock before considering dipping into the uptrend channel.
Edit: Here's 2 complimentary videos from MarketClub:
-ABX Barrick Gold Analysis
-All Wound Up Over Gold
As you know, we're in the midst of the earnings seasons, so please do check earnings date for swing stocks.


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