One of the things I do is scan for tickers that have been beaten up for a while but that generally have good fundamentals or have inherent strengths for various reasons – i.e. consumer staples, tech, energy, financials etc. (I always monitor GDX, but it’s a good example of what I’m noting here). Frequently they start to develop interesting charts on their way to bouncing back up. It can often take a while, but after an earnings issue, can be quick. If you look at any of the attached charts, be sure to also look at the M and W charts to see the whole picture. Some specific notes on each:
CVS – good D chart and the 15 min chart produced a decent day trade today supported by the trend from the D chart. It also has seasonality from 6/29 – 7/13 (10 and 4).
WBA – good D chart and as with CVS, the 15 min chart produced a good day trade today supported by the trend from the D chart. It also has seasonality from 7/6 – 7/20 (12 and 2). Have a small opening swing trade on (Aug 16) based on cross of 8 and 21 on D and the 60 min. – not great momentum.
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