The Nasdaq pulled away last week breaking to multi year highs. While it is clear of resistance the Nasdaq has pulled up pretty far from the 20sma. It is short term overbought so it could pull back to the rising 9 ema. With the large caps confirming the move, the prudent thing to do is to focus on the long setups. Here are a few charts that are setting up nicely.
Amazon.com, Inc. (Public, NASDAQ:AMZN)
AMZN looks like it is bouncing off the lower band and coming off oversold levels.
Lumera Corporation (Public, NASDAQ:LMRA)
LMRA has been pulling back for a while and got some volume on Friday. Keep an eye on it to see if it can follow through.
Rostelekom OAO (ADR) (Public, NYSE:ROS)
This is the first pull back to the 20 sma for ROS in months and may be offering a good entry.
Enterprise Products Partners L.P. (Public, NYSE:EPD)
EPD pulled back to the lower band and previous resistance. Keep an eye on it to see if it turns up here after narrowing in range.
Openwave Systems Inc. (Public, NASDAQ:OPWV)
OPWV seems to be finding support and may make an assault on the 200sma.
Equifax Inc. (Public, NYSE:EFX)
EFX has worked its way down to the lower end of a trend channel and has been finding support at the rising 50sma.
Consulier Engineering, Inc. (Public, NASDAQ:CSLR)
CSLR had a heck of a move that it's been consolidating. It may not be ready to make a move that holds, but volume did rise well above its 60 day moving average.
Keep in mind that there are tons of earnings reports this week and there will probably be some volatility with the indices being overbought as well.
Good Luck,
DT
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