Early Look

Here are some stocks from a recent long scan that might present potential swing long opportunities. For those aggressive traders, you can tap into the possibility of scaling in off support. And for those traders that are more accustomed to the classical breakout pattern, watch the pattern for entry trigger.

Starting off with the index ETF, SPY & IWM, both of them have forming a bull flag from the recent pull back.

The SP500 ETF, SPY has a measured move target near 208 to 210.

(click on the chart to enlarge)


The Russell 2000 ETF, IWM has a measured move target into the all time high territory above 121 to 122.



IBM also appears to have formed a bull flag with a measured move price target in the 198 to 200 range.



WFC seems to be completing an inverted head & shoulder pattern with a measured move price target inside of 54.



QCOM is in the process of completing a cup & handle pattern or an ascending triangle. Both of these patterns project a measured move price target of filling the price gap near the 81.50 level.



YUM appears to be setting up for a potential breakout above 73 and move to a project price target near 77. One can interpret this pattern as a cup & handle or an ascending triangle. The price target remains the same for both patterns.