Momentum Change? Here are a few stocks I think are setting up for a nice move higher over the coming weeks.
$X was a great trade last week. It gave back a lot of its gains into weeks ends, but its moving higher again to start the week.
Momentum has turned, and from a chart perspective $22.50 would be the first stop. A break higher puts $25 into focus.
$MOS - it's been a waiting game. If you are trading out of the money options, waiting is a killer. Time is something short term option traders don't have. We need the move... and we need it now. The good thing about $MOS is the market doesn't think its going to move. How do I know that? Because the options are priced for little movement.
The $23.50 calls are $.07 for this week. I may go out a few weeks and wait it out. I think the move is coming, whether the market expects it or not.