Technical Setups: Advance Auto Parts, TD Ameritrade
BALTIMORE ( Stockpickr) -- While the rally of 2010 has been steaming along for long enough to send contrarian alarms ringing, it might not be time to hunker down for a big correction just yet -- across the board, the short term technicals are pointing toward a bullish (or at least neutral) outlook to end the final week in March. But a few stocks are setting up for a more compelling trade, so as usual, let's take a look at this week's technical set-ups.
Technical analysis is a way for investors to quantify qualitative factors such as investor psychology based on a stock's chart patterns and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.
Let's face it, though -- sometimes investors don't know where to start. That's why, every week, Stockpickr takes a look at stocks that could be staging a technical move soon and compiles a portfolio of promising Technical Setups.
Here's a look at this week's potential trades.
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