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BALTIMORE (Stockpickr) -- Earnings season continues to make a serious impact on market action this morning, as traders absorb quarterly releases from major financial firms Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report, Bank of New York Mellon (BK) - Get Bank of New York Mellon Corporation Report and Wells Fargo (WFC) - Get Wells Fargo & Company Report from before the bell. The overall tone of those earnings will play a major part in picking the market's direction this morning.

And right off the bat those earnings look a bit tepid, particularly compared with the blockbuster quarter seen at peer

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

, which bested earnings expectations on Friday.

But while investors try to figure out what to do in this fickle market, we'll take action once again with three new technical setups for the week.


Rocket Stocks for the Week


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's a look at

this week's potential trades



Small-cap satellite communications powerhouse

TheStreet Recommends


(VSAT) - Get ViaSat, Inc. Report

has been a strong performer in the last year, with shares gaining more than 43% over that time period. That's largely been the result of strong fundamental performance at the heels of a historically tough time for the Carlsbad, Calif.-based firm. Now, though, could be an even better time to buy shares for traders looking to make a short-term move in the stock.

That's because ViaSat's shares have been locked in a well-defined channel up for the last few quarters, a factor that gives this stock highly predictable behavior and a well-defined risk profile. With shares of ViaSat sitting right at trend line support following a multiday selloff in shares, expect a bounce to provide significant upside.

The ideal time to buy will be the first positive day that provides a bounce off of the bottom of the channel. That said, it'll be crucial to be vigilant right now. If shares crash through support, this is a trade best walked away from. If you do decide to go long, place a protective stop just below $41.

ViaSat is the top holding of

Seth Klarman's Baupost Group

, at 25% of the total portfolio. TheStreet Ratings has a

B buy rating on the stock


Morgan Stanley

This isn't the first week we've talked about

Morgan Stanley

(MS) - Get Morgan Stanley Report

in our weekly look at Technical Setups -- the last time we discussed the stock, it was

preparing to break out

back in December 2010. Shares have since rallied 9%, but that latest jump could be just the tip of the iceberg if Morgan Stanley is able to successfully clear its next resistance level.

Right now, Morgan Stanley is testing resistance at $29, a level that shares previously failed to break above back in the summer of 2010. A definitive move above $29 would remove another upside barrier from shares, and could provide a double-digit upside in the short-term.

That said, this week's market action could scuttle that attempt, as financial stocks get shellacked. Make sure you wait for an actual breakout above $29 before going long. Anything less would be a gamble.

Morgan Stanley is one of the top holdings of

Bruce Berkowitz's Fairholme Capital Management

, at 8% of the total portfolio, and also shows up in

Bridger Management's portfolio

. It was one of Credit Suisse's

18 top stock picks for 2011

, and Roberto Pedone featured it earlier this week as a

breakout stock play

. TheStreet Ratings has a

C- hold rating on the stock


Anheuser-Busch InBev

Anheuser-Busch InBev

(BUD) - Get Anheuser-Busch InBev SA/NV Report

has long been thought of as a strong

defensive play

for your portfolio -- but this giant brewer is going on offense right now.

Shares of BUD have been in a longstanding uptrend for the last several months, bouncing higher off of support no fewer than six times since June. At present, shares are sitting right above that trend line support level, giving traders a potentially ideal time to go long shares.

That said, with a tentative resistance level immediately overhead at the 50-day moving average, the best time to buy will be on a push above that line. Place your protective stop at $56 to avoid this trade moving against you.

Anheuser-Busch comprises 1.9% of the

Vice Fund

(VICEX), which invests in stocks related to vices such as tobacco, alcohol and gambling.

To see these plays in action, check out the

Technical Setups for the Week portfolio

on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


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At the time of publication, author had no positions in stocks mentioned.Jonas Elmerraji, based out of Baltimore, is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including




, and has been featured in

Investor's Business Daily

, in

Consumer's Digest

and on

Jonas Elmerraji is the editor and portfolio manager of the

Rhino Stock Report

, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including




, and has been featured in

Investor's Business Daily

, in

Consumer's Digest

and on