The extreme rage move on Thursday has left little by way of plannable trades, as the risk reward ratios are poor due to the lack of support and resistance. A few stocks will be on the watch list, and we will look them over if resistance stops can be established.
Anadarko Petroleum (APC) is a breakaway Fast Ball setup. A move below 28.90 will be our signal that a move to the downside may be imminent. As with everything for the session, a solid resistance stop will need to be identifiable prior to any consideration on our part.
Anadarko Petroleum (APC)
Celanese Corp (CE) is a Type II Fast Ball setup. A move below 8.25 could spell range move lower for the stock.
Celanese Corp (CE)
EOG Resources (EOG) is also a type II setup with potential downside after a break of 63.90.
EOG Resources (EOG)
Finally, Reynolds American looks ready for a Fast Ball continuation move lower on broader market weakness on Friday. We will look for any early bounce to fail to indicate a possible move may be in the cards.
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It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
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