Focus List 2/28

Geoff Bysshe | February 28, 2011

Long Focus:
APA: Broke out of a key daily consolidation area right at a positively sloped 50 day MA on Friday. There is plenty of resistance from its highs in January but the breakout and it being in the energy space make it a prime long candidate. Key areas of resistance from daily highs are 125.59-69 and then 52 week high area of 127.14 to 127.73. Key daily levels of support from prior highs are at 122.20, 121.86 and 121.74.
- Trade OR breakouts above S1, 121.51 which is just below the prior day’s high of 121.74.
- Trade OR reversals above S1 just like the breakout numbers listed above.

ROK: Had a nice move in the morning on Friday and then consolidated for most of the day. It is in a very strong trend so it’s worth watching on strength or weakness.
- Trade OR breakouts over the FTP, 88.32, which also lines up with the 10 day MA at 88.39. There is an important intra-day low at 88.15 to watch out for.
- Trade OR reversals above S1, 87.70, which lines up with the prior day’s high of 87.63

Other interesting long charts: AGP, BID , JNPR, RVBD, BA, PXD, APA, ROK, HES, CYH, ICE, PLCM, POT ,ESI, TSL, GMCR, TWC, NOG, XOM, WLL, VFC, RL, BWLD, PNRA, ROST, SWK, ARUN, URBN

Short Focus:

SHW: After 2 strong down days SHW simply consolidated on Friday. It is sitting right under key daily support so any downward momentum may become a down day worth following.

- Trade OR Breakdowns below the FTP, 81.64. Watch intra-day support levels of 81.40 and 81.20 which lines up with S1, 81.14.

- Trade OR Reversals below R1, 82.13 which lines up with yesterday's high of 82.15. Since the pivots are stacked slightly positively I would be hesitatnt to short above these levels.

Other interesting short charts: GWW,CMI,LVS,EQIX,COH,TIF,CCJ,MON,STT,FCX,CMI, PCAR, UNP, A, BDX, LH, FCX,