Fortune Brands Home & Security

Last up is Fortune Brands Home & Security ( FBHS), another channel trade that's testing trend line support right now. FBHS hasn't established its channel for as long as Visa has, but ultimately that could prove to be a good thing; after all, there's a whole lot less demand that's had a chance to be absorbed to date.

Yesterday, shares stopped right at support, a strong sign that buyers were actively jumping in towards the end of the session. Today, the entry strategy is exactly the same as the one in Visa -- I'd recommend building a position in this stock if it can push through its 50-day moving average during the session.

Then, keep a protective stop just on the other side of that support line.

To see this week's trades 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, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

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