What To Do With Stocks Consolidating Near Highs? Here’s One Idea…
Biogen
(
BGEN |
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PowerRating) is trading in a consolidation
near its highs. Later in the day, it’s possible they come for this one again.
The high of the day is 34.90. The group is also strong, as the Biotech HOLDRs
broke out of a large ascending triangle this morning.Â
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American International Group
(
AIG |
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News |
PowerRating) is showing
good elative strength intraday, and is also trading near its highs in a
consolidation. Again, we could see a breakout later here as well.
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The E-minis continue to respect the pitchfork I
mentioned yesterday, but a break below the upper line would be bearish.
Have a good afternoon.
Brice Wightman