KapStone Paper has taken out an uptrend line drawn off its lows since November and its 50-day moving average, trading down nearly 2% recently in today's session. A close at this level would also remove any support that was being supplied by this month's low.
The better performers on their 50-day average test are H&R Block (HRB - Get Report), Questar (STR - Get Report), the natural gas utility, and staffing-and-business services company Robert Half International RHI. The chart shows H&R Block up nearly 3% recently in today's session, forming a bullish two-day reversal candle combination. A bounce off an uptrend line extending from the October low on Friday has continued in today's session and taken out the 50-day moving average.
Questar bounced off its 50-day average last week and the momentum into today's session is taking it above a resistance line drawn off its November and December highs. A confirmed break would establish a double bottom o (RHI - Get Report)n the chart.
Robert Half is extending last week's bounce off its 50-day average and a close near current levels would establish a bullish two-day reversal candle combination, similar to the one seen in November, and re-establish the uptrend. These stocks need to close above or below their respective levels of support and resistance before they become trading candidates and they require disciplined trailing stops.
At the time of publication, Moreno had no positions in the stocks mentioned.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV