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Market Update: Proper Base Characteristics for Identifying Opportunities

Stay updated with the current market trends and learn how to identify proper base characteristics for profitable trading. Review important factors in evaluating bases and specific stock suggestions for potential breakouts.

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Market Update: Proper Base Characteristics for Identifying Opportunities

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  1. Identifying Proper Base Characteristics May 6, 2014

  2. Current Market Update • Market confirmed correction 4/4 • Since last meeting on 2/28 (NASDAQ @ 4318) • Down 5.28% currently at 4080 • Notice 50 day Moving Average • Best practice: Review Price and volume of market and leading stocks daily • Big Picture • Sector Leaders

  3. Sub-Industry Leaders

  4. Cup w/handle

  5. Double Bottom

  6. Proper Base Charateristics • http://www.investors.com/pdf/BaseChecklist.pdf.cms • 8 things to look for when evaluating bases: • Is the market in confirmed uptrend? • Can you identify the type of base? • How long is the base? • Does the base have elements of strength? • Does the base have elements of support? • Has there been a shakeout near lows of base? • Does the handle appear in the upper ½ of base? • At the ideal buy point, does Volume surge at least 40%?

  7. Specific Stocks • AKRX • EBS • ABG • NFX • KOG • AER • TRN • VRX (12/12) • GRFS (10/25)

  8. Stocks near Breakout Price

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