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A 6-Pack of Volume Reversals
11/11/2005 12:00 am EST
Using a system called Volume Reversal analysis, trading expert Mark Leibovit looks for a price reversal in a stock's trend, accompanied by an increase in volume. Here, he offers a 6-pack of his latest trading ideas that have shown these positive patterns:
"There is no need to provide investors with an introduction to Coca-Cola (KO NYSE). We've liked the stock since it bottomed at 38.30 one year ago at 38.30 on October 29 and feel is it is slowly but surely headed to 48. Patient investors hold. Traders should buy on weakness but keeping a mental stop at 38. This stock has often been out of sync with other Dow Industrial components and needs to be judged independently. We like it here, after having seen it pull back from 45 to 40.
"Valhi (VHI NYSE) operates in the chemicals, component products, waste management, and titanium metals industries. The company produces titanium dioxide pigments for imparting whiteness, brightness, and opacity to a range of products, including paints, plastics, paper, fibers, foods, ceramics, and cosmetics. The stock is a play on both uranium and titanium. The shares have been consolidating around 17 for several months and should trade back toward 22 in coming months.
"LaBarge (LB ASE) makes printed circuit card assemblies for customers desiring products capable of performing in harsh environmental conditions . Its products are used in various technology applications, including military communication and radar systems, military and commercial aircraft, satellites, and space launch vehicles. After a sharp correction from 22 to 12, LB is now working its way out of a basing formation. First upside target is 17 and through 17 back to a test of 22.
"Royale Energy (ROYL NASDAQ) produces oil and natural gas; its wells are located primarily in California, Texas, and Utah. Royale Energy has been recently trading in an eight to 11 range with volume remaining positive. This is one to watch for a move back through 11 and back through the 2004 high of 14. Downside risk in the stock is a decline back to the five level.
"Rotonics Manufacturing (RMI ASE) engages in the manufacture and marketing of plastic products such as storage tanks, bin lids, and refuse containers for automated removal, medical waste containers, agricultural/livestock products, kayaks, outdoor lamp posts, furniture, and planters. Year's range is 4.50 to 2.00 and the stock appears to be forming a base here at 2.50. Risk for this low-priced speculation is back to the $1 level. However, the upside is a move back to $4.50 or higher.
"Intuitive Surgical (ISRG NASDAQ) markets the da Vinci Surgical System for use in urologic, cardiothoracic, and general surgeries. The system translates the surgeon’s natural hand movements on a console into corresponding micro-movements of instruments positioned inside the patient through small puncture incisions. Its other products include Aesop, a voice-activated robotic arm that automates the task of endoscope positioning; and Hermes, a system designed to voice control a series of smart medical devices. The stock is volatile, but in a clear uptrend. Technical, we projects a move to the 102-107 level."
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