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), Bank of New York Mellon ( BK) and Wells Fargo ( WFC) 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), 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.

Related: Rocket Stocks for the Week

Remember, 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 ViaSat ( VSAT) 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) 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) 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
Forbes and Investopedia , 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 Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on