BR Technicals Stocks to Watch

Key Points

• The biggest threat to the stock market is the Trump trade war.
• This month we are watching the industrial, consumer discretionary, financial, and technology sectors.

BA - Boeing

BA has had a large run up after the election of Trump. His promises to boost military spending has really helped the company perform better. However, the stock has taken a breather, and has moved into an ascending triangle. The stock has already moved past the entry price, so we may open a new position near the close on Monday.

EMR - Emerson Electric

EMR has recently broken past a minor resistance point while on its current uptrend. Since the stock has already broken out, and moved higher, this is one we will look to enter on a breakout retest. If the stock falls back to the resistance turned support, we can look to enter on a bounce.

PCAR - PACCAR

PCAR recently broke out past a resistance zone, but it has since moved too high to make a reasonable purchase, based on our risk rules. This is another stock we are looking to enter on a pullback. The idea is to enter on a bounce to capture a log-term uptrend.

AXP - American Express

We previously held AXP, but sold at the resistance to raise cash for defensive purposes. Now, four moths later, the stock has finally made its way past the resistance level. Unfortunately, the stock has moved up before we could enter. So again, this is another stock we are looking to enter on a pullback bounce.

AIZ - Assurant

AIZ broke out of a descending triangle pattern, but hit a resistance. Now, the stock has made new highs and pulled back, providing an opportunity to enter.

C - Citigroup

C broke out of its pennant formation, and now has made it past a resistance at $72.50. This stock is ready to be purchased. My one worry is that the stock is relying on higher interest rates, but higher rates may still be a while away.

JPM - JP Morgan Chase

This is another stock we sold to raise cash when financial stocks were looking weak. We sold near the resistance level, but now the stock has made new all-time highs. If the stock can make it to the target entry point, we will look to open a new position into one of the world’s largest banks.

CTSH - Cognizant Technology Solutions

CTSH is currently in a symmetrical triangle. If the stock can breakout, it will help add more exposure to the technology sector, and the stock can continue on its uptrend.

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Submitted September 24, 2018 at 06:17PM by BR-Technicals https://ift.tt/2pAd9Df