Technical Setups: Winn-Dixie, Regal-Beloit
BALTIMORE ( Stockpickr) -- Details on GM's IPO are the day's big market news, attracting attention from major financial outlets and from retail investors eager to get in on an offering of the Detroit auto giant's shares. On Thursday, shares of GM will begin trading again on the NYSE and TSX in one of the highest-profile IPOs of the year.
It's also one of the most popular. Estimates suggest that GM's share offering is 8 times oversubscribed and that the company is offering 30% more shares as a result.
That bullish anticipation could be a good thing for the market overall, given the S&P 500's current positioning right above key support levels. Thursday could help spark the next leg of this sentiment rally. For that reason, it makes sense to look at three technical setups that could benefit from increased market action.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. >>Also: 3 Stocks Setting Up for a Breakout Here's a look at this week's potential trades.
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