Blue sky stocks not far from resistance

[nizar]

Hi all,

What im trying to find are blue sky stocks (52week high is good enough) that have not run too far from resistance.

THe best ones are the stocks that have been range trading/consolidating for a while, from my experiences these types of stocks run hard (Im watching AED/NWE in anticipation).

Eg. BMN when it closed at above 3.00 for the first time in mid-March, or MTN when it broke 4.00 significantly and closed at 4.27 i think it was.

Those that have already run its hard to get a big winner out of them because the stop has to be too far from the action.

Ones that iv found so far are AGM and MRU.

Any others?

It would be nice if we could keep a continous thread about this, but i guess the breakout thread already maybe covers it??

Best way to play these stocks in my opinion is to buy 1/2 parcel on the first white candle bullish high volume break through resistance, then if it pulls back, AFTER it bounces, then you get the 2nd half of the parcel with stop below the point it bounced which would be the previous resistance (or channel ceiling). In my opinion.

 

[Freeballinginawetsuit]

THX, could be up your alley, currently on a pullback after a 'blue sky' break. Tight stop at 48c/loose one just under support at 45c .

 

[nizar]

THX is beautiful.
Lower volumes on the pullback, ill see where she bounces and then play it from there, i suspect 45-47c ish like you mentioned.

Thanks for that.

Any others??

 

[BIG BWACULL]

EDE must be one correct me if im wrong, has challenged 72c twice these last two months and broke through last week got as high as 80c now sitting back on 72c, will be interesting to see where it goes today and the rest of the month. thanks BIGinner.

 

[nizar]

HAV and NAV both look the goods, just waiting for the bounce,

EDE oh my if that bounces off 70c today it will be so so textbook. Thanks.

 

[chops_a_must]

ESG. Really tight consolidation for quite an amount of time, within 2c or so. And like I've said to you elsewhere, this is one of the ones with much better fundamentals than MPO.

And is probably in blue sky right now.