One of my most favorite setups are fundamentally sound stocks which have been constructively consolidating for sometime.We've seen this happen in my previous analysis of LC which incidentally powered higher today.
AT right now is nicely consolidating since its run up from 17. Based on its current range, 23 is acting as support while 24.40 is the resistance.
Break the resistance with volume and we might see a continuation of its uptrend. Closed today at 24 with a whopping 1.6M on the buy side.
VLL is also consolidating in an even narrower range. Notice that the bollinger band has further tightened suggesting an impending huge move. Whether its up or down is anyone's guess. Very minimal downside risk at this point though. If VLL does breakout of its range, initial resistance would be at 3.30 then 3.60. If it breaks down though, cutloss points could be pegged at 3.10 then followed by 3.00
From my previous analysis of SCC, it has continually respected its pivot point and has now followed thru on its gains. Based on its movement today, we're looking at a possible upside of 245. MACD is healthily pointing up and moving away from the zero line to support this.
LPZ continues to consolidate below its resistance line. A couple of encouraging signs though:
1) Dragonfly doji formation today suggests that it may attempt again to build momentum to take out resistance line.
2) A higher low was formed. 5.55 was the first low; 5.72 was the second low. This was the setup I was looking for in my previous LPZ analysis.
3) Stochastics starting to point up
Good luck with your trades as always!
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same.
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