Thursday, March 3, 2011

6 Bullish Chart Ideas For Friday

COHR: This stock is a machine. Looks ready to bust above 62.25-62.50 for a test of 67. No position.

EFL.TO: Monthly chart. Love to see breakouts of multi-year highs. Should be massive support in that whole 2.25-2.50 area. Held 50dma today @ 2.52. I am long between 2.65-2.70 in LT account. Target 5.50. Stop under 2.20. Interesting battery play marketing to both electric vehicles and power storage.

ENS: Great chart. I should be long. Target 41. Stop under 33.70. No position.

IBM: Rock solid support @ 159. Look for break above 166 to target 173. I like the idea of being long right here. No position.

ICE: Great setup here. Look for break above 130 to target 140. Recent spike in oil prices should be good for revenues. Potential takeover target. No position.

SNE: Bullish. Nice setup. Look for break above 37 to target 40 initially. Went long today @ 36.37. Stop under 35.50.

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