Brad Kenagy's  Instablog

Brad Kenagy
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-I have been investing since the fall of 2008 and invested through one of the most difficult investing periods in history and know the importance of dividend growth and stability during those times as well as during the good times. I started writing for Seeking Alpha a little over three years... More
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  • 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


    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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