Stock Chart Analysis ESRX

Express Scripts, Inc. (Public, NASDAQ:ESRX)

I was bearish on ESRX a few weeks ago, but it has improved it's posture considerably since then. It completed a 3 wave correction and then followed it up by tagging new highs. It has been consolidating in a bullish fashion for the past trading month and could be close to breaking out. Also appealing on this chart is the clear stop loss area that affords precise risk parameters. This could move out as soon as tomorrow.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis ISRG

Intuitive Surgical, Inc. (Public, NASDAQ:ISRG)

Momentum stocks have been on fire lately with huge moves in RIMM, BIDU, and WYNN. While ISRG has been steady, it hasn't really taken off. However, ISRG is very close to all time highs and could gain some steam if it clears overhead resistance. The chart looks pretty orderly here and with it bouncing off the 20sma it could be ready to go.



Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis NAVI

NaviSite, Inc. (Public, NASDAQ:NAVI)

NAVI recently had a strong move to break out of a channel it was following as it consolidated a prior breakout. It has been pulling back the past two days drifting along the upper trendline testing it as support. Often when a stock breaks through a trendline that was serving as resistance, it pulls back to it, where the area should now become support. The logic behind this is that people who sold the stock thinking it would fail at resistance feel like they are getting a second chance to get in, and fear missing out on a breakaway move.

Update: As I was finishing this up, I checked and saw that NAVI reported earnings after hours. It was trading a little higher, so it may be in play tomorrow. In this case, I would probably wait till after 10 am for the opening range to be established.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis TASR

TASER International, Inc. (Public, NASDAQ:TASR)

I was on the TASR bandwagon from May through late July as it steadily climbed 100%. It fought through an ABC (three wave) correction from late July through mid August and appears to be ready for a resumption of the prior trend. It is starting to base over the 20 day sma and should begin using it as support. If we project a measured move similar to the wave leading into the correction, we arrive with a ballpark target near 25.


Good Trading,


Joey

for more analysis, check out downtowntrader.com