BALTIMORE ( Stockpickr) -- Could March be the start of a rally in 2010? Following two months of fickle stock market performance, futures are pointing to a second consecutive bullish day on Tuesday as the S&P 500 index pushes toward a breakout over a key resistance level. That upward move could spell gains for many long-only investors, who've been suffering from market malaise in recent weeks.But we're not waiting to see if the S&P will make it over its resistance levels or if this week will bring more up days -- instead, we're turning back to the technicals to make profitable trades regardless of which way the market's headed. 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. But all too often, investors don't know where to start. So every week, Stockpickr takes a look at stocks that could be staging a technical move soon and compiles a portfolio of promising Technical Setups. Here's a look at this week's stocks.
Analyst Jake Lynch is hosting a live chat in the Stockpickr Forums today, from 1 p.m. to 2 p.m. Log in or sign up at Stockpickr and submit your questions now!
Tax preparation giant H&R Block ( HRB) is reeling in 2010. The company lowered its guidance for the fiscal year 2010, sending shares significantly lower last week. That may come as some surprise to investors who were counting on the looming tax season giving H&R Block a seasonal pop, but with shares oversold, it's set up a potential upside trade for this week.
Things are somewhat less bullish for Cabot Oil & Gas ( COG). The $4.3 billion oil and gas operator is already down more than 6% in 2010, and bigger losses could be on the way right now thanks to some serious technical black clouds that have been forming since late 2009.