Watchlist for 22 December 2016: EZPW, GGAL, MOMO, MYOK, SBGL, SITO, VIPS

My watchlist for 22 December comprises seven stocks that appear to be in rebounds from lower channel boundaries. Let’s take a look:

SITO is making what looks like a nice reversal from a lower channel boundary/trend line that has about 50% gain potential to the channel mid-line. Entry = 3.32, protective stop = 2.84.

SBGL is a bit more of a “hail Mary” than I’d normally consider, but the risk/reward here is good. Price has just bounced from a support zone and possible lower channel boundary that gives it roughly 120% gain potential to the channel mid-line with a small initial risk factor. Entry = 6.51, protective stop = 6.16.

EZPW looks to be in the lower half of a well-defined channel with a potential gain of around 10% to the mid-line. This is much lower volatility stock than most of the ones I pick, but that’s not a bad thing. Entry = 10.66, protective stop = 10.18.

GGAL has been hammered back to the lower boundary of a long term channel, where it’s making signs of a reversal with roughly 20% gain potential to the mid-line. Entry = 24.81, protective stop = 23.23.

VIPS has just made a nice (bullish) double bottom at the lower boundary of what appears to be a nice long-term channel. Entry = 11.38, protective stop = 10.61.

I was about to pass by MOMO, but after taking a minute to look for a channel, I found one that looks pretty clean and from which price is making a rebound with almost 30% upside to mid-channel. Entry = 18.57, protective stop = 16.73.

Last but not least, MYOK is trying to make a bounce from the bottom of a long term channel, with about 40% upside to mid-channel. Entry = 13.46, protective stop = 12.75.

Good luck trading!

Leave a Reply

Your email address will not be published. Required fields are marked *