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Active Screen - CANSLIM: April 15th

|Includes: Apple Inc. (AAPL), ABX, BB, BIDU, CTSH, FCX, ISRG, VALE

For another week there was no change at the top (ranked by Market Cap): Apple (NASDAQ:AAPL), Vale S.A. (NYSE:VALE), Free McMoran (NYSE:FCX), Barrick Gold (NYSE:ABX), Baidu (NASDAQ:BIDU), Research in Motion (RIMM), Cognizant Technlogy (NASDAQ:CTSH), and Intuitive Surgical (NASDAQ:ISRG). The Screener setup was as follows:



Apple (AAPL) is looking very vulnerable at $330. Might not take much for it to test $325 which is where the tears will really start to flow if the latter price breaks. The head-and-shoulder projection for a break down is $285, altough there is a prior band of support between $295 and $300 which is a more likely target. 

Vale S.A. (VALE) is also showing what amount to the latter stages of a head-and-shoulder reversal. A break of $31 confirms and sets a target of $25, which is the congestion zone of last summer.

Zignals Chart Image 
Free McMoran (FCX) having risen to challenge $58 has since headed South, slicing its 50-day MA with relative ease. The 200-day MA currently sitting just below $48 is a likely downside target.

Barrick Gold (ABX) has held its gains better than most. The 50-day MA at $51 offers a good place for stops if holding or looking to buy. Broader pattern is one of a consolidation, bound by $46 support and $55.50 resistance.

Baidu (BIDU) continues to fire on all cylinders. The rally is shaping to go parabolic, but hasn't exhibited the heavy volume typical of such a move. Suspect there will be a lot of stops just below $135. If prices were to break $135, watch for a spike low (i.e. rapid fall and equally rapid rise). Traders buying the stop-hits would be looking for a retest of whatever high the rally made prior to the break of $135. Nothing to suggest any of this will happen, but it makes for a good Alert.

Research in Motion (RIMM) keeps leaking price having lost 200-day MA support. Little to recommend it at the moment.

Cognizant Technology (CTSH) has enjoyed a solid rally, peppered with brief sallies below its 50-day MA. It looks likely to test the 50-day MA again early next week, but every test weakens it as support. Should the 50-day MA break then support kicks in at $72 and the 200-day MA just below $68.

Finally, Intuitive Surgical (ISRG) is consolidating its advance from $320 to $375.
The stock looks to be shaping a cup-and-handle pattern with a neckine at $385. Could be one of the better stocks for the latter part of 2011.

Zignals Chart Image