BALTIMORE ( Stockpickr) -- While the market's recent volatility has been tough for most investors, the past few months have been a bull market for technical traders who make plays on short-term price movement. But don't think that you need to be an expert on the technicals to take advantage of the market's setups. If you've been wondering how to put charting to work for your portfolio, here's this week's look at a few select stocks that could be poised for a technical setup.
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.
Here are this week's technical plays.