Even before this morning’s strong payrolls data we had 4 new long positions trigger for us which we’ll be entering at the open: LinkedIn ($LNKD), Actavis ($ACT), Under Armour ($UA), Cabot Oil & Gas ($COG).
We’ve been watching this since exiting with a large gain after its post-earnings slump in May. In the last few weeks it’s shown good relative strength and now appears to be comfortably back above its 20 and 50 day.
Simple stuff here, a high-volume advance and follow-through that has since consolidated and looks ready to resume with a series of accumulation days and a nearby stop making for a good risk/reward trade.
Under Armour ($UA)
Decline from highs has hallmarks of countertrend move culminating in high-volume flush through 50-day. The subsequent bounce has rapidly regained ground above the 20 and 50-day giving us a low-risk entry.
Cabot Oil & Gas ($COG)
Some recent high-volume up days are indicating this might be ready to breakout and resume its uptrend.