Around the Horn: Stocks to Watch for August 18

Popular Articles

By Adrian Manz | Published 08/18/2006 | Stocks | Unrated

Around the Horn: Stocks to Watch for August 18

On Friday, we will have three stocks on our watch list. The first, Best Buy Inc (BBY) left an Infield Fly setup on the daily chart just above the 20-period simple moving average.

Forest Laboratories Inc (FRX) has resurfaced and managed a Fast Ball at new highs on Thursday. We will have this old favorite on screen throughout the session and will be particularly interested in a failure to break through the highs of Thursday. A reversal play from new Fast Ball highs is often a lucrative move, so it bears watching this one for price action in either direction.

Finally, Group 1 Automotive, Inc (GPI) is on the radar again. The stock left a Switch Hitter pullback on the daily chart and a Backdoor Slider on the weekly. We will look for follow through on Friday.

Best Buy Inc

Forest Laboratories Inc

Group 1 Automotive, Inc.

Adrian Manz is the author of Around The Horn: A Trader's Guide To Consistently Scoring In The Markets and is cofounder of TraderInsight.com. Email him at adrian@traderinsight.com.

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.