Top Picks for the coming week 8/9/10

After looking at over 100 charts today, the following are a few of the favorites that I think have potential to break out this week... If the Market permits that is:


CGA - Closed right into the 100SMA on Friday and top of ascending triangle on better than average volume.  This is one Agriculture play which has stalled out while the rest have moved double percentage digits.

WLT - Broke out recently and has held its gains while consolidating beneath the 100SMA.  Will be watching this one for a break of the 100SMA and consolidation area.

WXCO - Right at its 52week high and key resistance area.  Would like to see more volume come in for a good breakout.  Keep an eye on this one.

HEAT - Wedge closing in and Friday's action points higher from here... 1st Target is 7.65 which is the 100SMA, after that, its clear till 8.60.

V - Visa bounced off previous support levels on Friday and looking for test of 50SMA at a minimum.  You could go long and place a stop right below this support level... I currently have a position in V Aug 75 Calls which are currently down bout 35% but I plan to avg down if I see continued up movement... On another note, MA (Mastercard) closed above its 50SMA and these usually move in tandem.

WATG - Looking to break out of ascending wedge here... 1st Target 9.22 = 100SMA

ENER - Watching for breakout of rising wedge...

ADM - Watching for short opportunity here back to 200SMA

Thanks fo readin...

BT