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Brad Kenagy
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History/Trading Style: I have been investing for 6 years. The subjects I focus primarily on are building custom portfolio's of ETF's, Technical analysis of stocks and ETF's, and value investing, as well as other topics.
  • Daily Technical Study Report 6/5/2012 0 comments
    Jun 5, 2012 4:49 PM | about stocks: MS, AMP, PRU, IYF, FAS, MOLX, KFY, LRCX

    Today the following stocks/ETF's met all the criteria for one of the three technical studies below:

    Bollinger Bands Study:

    Bollinger Bands, ADX [Average Directional Index], Momentum, and A Moving Average

    Goal: Identify Stocks that are below the lower Bollinger band, and meet other criteria I have set using the three other technical indicators listed above.

    Reversal Study:

    Price Channels, ADX

    Goal: Identify stocks that are trending lower and show signs of reversal using Price channels and ADX.

    Fibonacci Study:

    Fibonacci Lines, RSI [Relative Strength Index] , and MFI [Money Flow Index]

    Goal: Identify stocks that have met certain Fibonacci retracement requirements as well as other criteria for RSI and MFI.

    6/5/2012 Study Matches

    Below are the study matches for the day, also before looking at the list below please read my DISCLAIMER here.

    Bollinger Bands Study: Korn/Ferry International (NYSE:KFY), Molex Inc. (NASDAQ:MOLX), Ameriprise Financial Inc. (NYSE:AMP), Morgan Stanley (NYSE:MS), Prudential Financial, Inc. (NYSE:PRU), Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS), iShares Dow Jones US Financial Sector (NYSEARCA:IYF).

    Reversal Study: Lam Research Corporation (NASDAQ:LRCX)

    Fibonacci Study: NONE

    Thoughts

    Today there were many stocks/ETF's that met the Bollinger Band Study Criteria, and out of the stocks/ETF's that met 5 of the 7 were financial related companies, which to me says that a possible reversal in the financials has just started to occur.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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