Global asset manager Brookfield Asset Management Inc (BAM) left an Infield Fly setup on Thursday after a strong upside surge pushed the stock into June – July 2007 resistance. We will watch for a move below 38.32 to signal a potential short sale / scalp opportunity.
Brookfield Asset Management Inc
Fomento Economico Mexicano (FMX) made a Line Drive expansion move above the 50-period simple moving average on Thursday, and will be a continuation candidate for Friday’s trading. We will look for price action around 36.80 to indicate a possible long entry opportunity.
Fomento Economico Mexicano S.A. de C.V.
A potential Sinker setup in Renaissance RE Holdings Ltd (RNR) will have us interested in shorting the stock on price action that sees RNR first move higher, exceeding the Thursday high of 64.65, then moving lower and taking out the Thursday close at 64.48. If the scenario unfolds, we will look to short the stock 10 cents below the Thursday close.
Renaissance RE Holdings Ltd
Shares of Stone Energy Corp (SGY) appear to be on the move again, with a Fast Ball setup for Friday’s trading rounding out tonight’s stocks to watch. We will look for trade above 40.05 to indicate a potential continuation entry opportunity.
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