3 Charts Poised for Breakout

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3 CHARTS POISED FOR BREAKOUT

There is an old saying among traders, and the older I get, the truer I believe it to be. It goes something like this:

"ONLY PRICE PAYS."

What this means is that, despite the many hours spent analyzing technical indicators and fundamental metrics, in the end the only thing that will determine whether or not your position will make money is the stock price. Get that right, and you can make money in the markets. Get it wrong, even if you get everything else right, and you'll lose money.

With that in mind, I want to highlight 3 charts of stocks that are poised to see a significant move in price. Two of these are expected to rise in price. One is expected to fall in price.

BDSI (Biodelivery Sciences)

BDSI has been in a significant downtrend ever since announcing disappointing clinical trial news back in March. Shares seem to have hit a bottom, however, for we now see two higher lows on the chart below (one in late October, and one earlier this month). The current rally has now reached the 50sma and the upper channel line. If BDSI can close above these levels, we'd have our breakout.


ADSK (Autodesk Software)

ADSK has been reporting stronger and stronger earnings on its new 3D graphics software, and just two weeks ago reported record earnings and raised guidance. Currently shares are coiling up just under new alltime highs. A close over $64/65 would constitute a major breakout move and likely see further upside.


XPO (XPO Logistics)

XPO is a shipping/logistics company struggling to take market share away from its much larger rivals, UPS and Fedex. While shares of the stock are trading at value levels, earnings have been slipping in recent quarters. The stock is in a downtrend and trading near resistance following a bear-relief rally. The wedge pattern on the chart looks ready to breakdown. A close below $29 should bring in strong selling pressure.

Posted to Dr. Stoxx Options Letter on Nov 23, 2015 — 2:11 PM
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  • {[comment.author.username]} — Marketfy Staff — Maven — Member
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