5 Top-Notch Technical Trades
Sam Collins, July 31, 2009
Free Trading Guides
Get your FREE Options Trader's Guide to Technical Analysis here!
-
If you're looking for the most accurate way to predict the direction a stock or the market is headed, technical analysis is it.
Of course, no chart pattern is accurate all of the time (which is why technical analysis is more of an art than a science), but it's the closest you're going to get to a sure thing in the stock market.
So I'm offering up five technical trades today. Each of these stock's charts has been screened using some of the basic technical analysis tools, and they all appear to be good bullish trades.
Keep reading to get five stocks that are almost guaranteed to go higher.
More By This Expert
Don't Get Burned by the Market
Investors who try to anticipate the market's next move may get burned. Your best course of action here is to be patient.
Leverage a Bet on the Nasdaq 100
The ProShares Ultra QQQ (QLD), which delivers twice the daily performance of the Nasdaq 100, hit a new 18-month high this week, and doesn't appear to be stopping.
The market will eventually break to new highs, but it will likely remain within the current narrow zone of support for several more months.
An 'Ultra' Risky Bet on the Financials
If you have the stomach for a high-risk trade that could pay out big, now is the time to buy the ProShares Ultra Financials (UYG).
2 Sectors That Might Keep the Market Afloat
If technology and financial stocks can break through major technical resistance, the market could continue to go up for several more days.
