In Play: FARO, BARE
Here are two more stocks to check out. Both FARO and BARE have been mentioned in the past. I picked them today because of their strong chart patterns.
BARE is showing a pivot point that is helping it start a new uptrend closer to the 10 day Ma. Its previous uptrend was faulty and way to choppy. This the time to buy it. Note: Perhaps we should wait a bit because volume is pretty much lackluster at the moment. If this is indeed the right point to buy it, shouldn't there be more volume to confirm it??
FARO has been sidewinding along for a while between 24 and 28. Unfortunatly, it didn't seem like it wanted to head any higher than this defined channel. Today, the stock seems to breaking out the channel. I am still looking for above average volume. It would be nice to see the stock close at the HOD on volume of 400k or above.
Labels: In Play
posted by Nick M. @ 11:07 AM
1 Comments:
Ok, I see a nice confirmation on the breakout of FARO! Now is a nice time to buy some. I bought some before the market closed.
The action on BARE wasn't as good. I was expoecting it to close higher (especially past the previous resistance at 40) and on higher volume. I like FARO better!
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