Friday, November 20, 2015

Valeant Pharmaceuticals Intl Inc (NYSE:VRX)

Valeant Pharmaceuticals Intl Inc (NYSE:VRX) finished the day up 15.6% on solid volume of over 23 million of shares exchanging hands on the day. With no resistance between $87 and the 20-day EMA a break above the $87 level can see the stock trade in the $90 area pretty soon. Momentum indicators are slightly bullish now with RSI inching away above the 30% level. Have this on your watchlist.

Zix Corporation (NASDAQ:ZIXI)

Zix Corporation (NASDAQ:ZIXI) finally broke out to the upside on heavy volume today. Buyable on a pullback to the pivot.

Fluor Corporation (NYSE: FLR)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services, and Power. The company also offers unionized management and construction services in the United States and Canada. Fluor Corporation was founded in 1912 and is headquartered in Irving, Texas.
Take a look at the 1-year chart of Fluor (NYSE: FLR) below with my added notations:

FLR has formed a relatively clear up-channel chart pattern over the last 2 months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to channels, remember that any (3) points can start the channel, but a 4th point or more confirms it. You can see that FLR has 5 different points of channel resistance (red) or support (green).

The Tale of the Tape: FLR has formed an up-channel. A long trade could be entered on a pullback down to the channel support, which currently sits near $47. Short opportunities would be on rallies up to channel resistance or on a break of channel support.