Finding a Few Gems

I ran across these three charts over the weekend. Here's my take on em:

PKTR -- broke out of a bullish triangle last week and is consolidating just around 12 dollars. In its breakout PKTR not only broke through its triangle, it also broke a pretty significant resistance level at 12 dollars. That level had been the point of a three tops that had come within 6 months. Looking at the chart, it looks like PKTR has some upside and could be bought right here.

WAG -- this stock has been getting punished unmercilessly since its top in September. It has fallen over 20% from its high and continues to fall. Right now it is riding its lower Bollinger Band tightly, is oversold and has an OBV which looks to be stabilizing. These characteristics and the fact that WAG has strong support at 40 coming up leads me to believe their will be a strong bounce coming once support is hit. I'd look for the a little above the 40 level to catch WAG and ride it higher.

One other note: A look at an ADBE chart this weekend showed that RSI is diverging from the price movement. ADBE's recent movement showed it gapped up to 42.75. It's previous high had been around 41.90. During this move up to 42.75, the RSI failed to make a new high and actually dropped a bit from first high (41.90) to the next. This divergence may seem small but it definately signals to me that ADBE may be running out of steam right here and should only be monitored and not bought.

Thats it for me tonight. I'll be back on posting tomorrow.

CM