Although not many of the trade setups we detail in our stock picking report are from the IPO scan, we always look forward to trading those stocks that eventually appear in the IPO scan because we have learned over the years that a combination of an IPO
with a bullish chart pattern leads to nice breakouts with a high level of reliability.
While money has flowed out of BRIC ETFs (Brazil, Russia, India, China), Southeast Asia continues to be a hot spot
with bullish chart patterns in Indonesia ($ EIDO), Thailand ($ THD), and Singapore ($ EWS).
Not exact matches
However, although such price action is
bullish, the daily
chart pattern presently does not yet provide us
with a clearly defined buy entry point and level for setting a stop price.
The current pullback in the stock market is a buying opportunity for the top stocks
with relative strength and
bullish chart patterns.
For
bullish chart patterns, we are always looking for the price action to tighten up within a base of consolidation, and we are now seeing that
with the price action finding support at the 50 - MA in late December, and potentially finding support at the 20 - day EMA this week.
July Sugar is forming a
bullish complex reaction swing,
with a peg - leg
pattern, on the 60 - minute
chart.
BTC / USD formed a
bullish engulfing candlestick
chart pattern,
with the Tenkan line crossing above the Kijun line on Ichimoku Kinko Hyo's standard setup.