2. Now let's look at Financial Engines, which provides independent, technology-enabled portfolio management services, investment advice and retirement income services to participants in employer-sponsored defined-contribution plans in the U.S.
Financial Engines traded up 2.38% on Friday, closing at $47.25 per share.
- Friday's range: $45.31 - $47.38
- 52-week range: $37.14 - $71.08
- Friday's volume: 396,698
- 3-month average volume: 569,165
Financial Engines was a rounded bottom breakout on Friday, June 6, and has been confirming and consolidating since. On Friday, the ultimate confirmation happened when the 34-exponential moving average crossed over the 50-day simple moving average. Plus, price action moved over the recent consolidation levels. Additionally, volume is increasing on the upswing, which tells us that the investor sentiment is behind the bullish move.
Now we should look for the breakout.I'd look for an entry as cheap as possible, anywhere between the 50-day simple moving average at $43.74, to Friday's close at $47.25. I'd set a stop at about $41.20, which is at the bottom of a gap-up that happened on June 5. I'd target the 200-day simple moving average at $56.23, which is almost 19% from Friday's close. There is overhead resistance at $47.70, $49.69, $53.05, and then again at the 200-day simple moving average, so let it consolidate at these levels. Stay long until you see a confirmed sell signal or a close below the t-line. Before exiting the trade, ask yourself, "Would I buy at this level?" This question has kept me from selling prematurely on countless occasions. 3. Lastly, we'll look at Isis Pharmaceuticals, which is engaged in the discovery and development of antisense drugs using a novel drug discovery platform. Isis traded up 4.31% on Friday, closing at $33.63 per share.
- Friday's range: $31.34 - $33.70
- 52-week range: $20.52 - $62.66
- Friday's volume: 2,727,307
- 3-month average volume: 2,743,820