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5 Bottoming Stocks Starting to Signal a Buy

ViaSat

A similar setup is taking shape in our next name. Small-cap satellite communications stock ViaSat (VSAT - Get Report) is bottoming thanks to an ascending triangle pattern that's forming in shares.

The ascending triangle is a setup that's formed by horizontal resistance to the upside (at $41 in this case) and uptrending support below shares. Essentially, as VSAT bounces in between those two technical levels, it's getting squeezed closer and closer to a breakout above that resistance level at $41. When that happens, we've got a buy signal in this stock.

At a quick glance, the pattern in VSAT looks a lot like the one in GRMN. That's because the same buyer/seller imbalance at resistance is keeping this stock down at the moment.

Momentum adds some extra confidence to this trade - 14-day RSI has been trending higher since the summer. Since momentum is a leading indicator of price, that's a very good sign for shares. When $41 gets taken out, I'd recommend jumping in.

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SYM TRADE IT LAST %CHG
BNNY $45.97 -0.02%
BBY $34.34 -2.20%
GRMN $45.96 0.03%
VSAT $62.45 -0.13%
VFC $71.35 0.10%

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