Happy Thursday, Traderade family. I have three charts to share with you that each represent a stock worth watching.
Principal Financial Group is showing signs of strong upward momentum, above the EMA(8), Ichimoku cloud, point of control, with a rising RSI above 50.
My stop out would be the EMA(8), otherwise I'm content to ride the trend higher, but only after their earnings if we're able to maintain this momentum. Earnings are coming up on January 31st, so I'm waiting until after Fed day to see what happens with this company's stock so that two major event volatility catalysts are behind us.
Plains All American Pipeline has a powerful bullish trend that looks attractive. The company's share price is above the EMA(8), Ichimoku cloud, and yearly point of control. RSI is well above 50.
Their earnings are coming up in just under two weeks on February 8th, so there may be some time for this to play out to the upside, but don't forget about Fednesday next week. The EMA(8) would be my stop out if we are to close under it. I wouldn't hold through Fed day, but may come back in after earnings if they look good and the stock responds positively.
Henry Schein's chart has a bullish look to it as well. Above the cloud, EMA(8), yearly point of control, and with rising RSI. The company has earnings on February 16th, so there's some time for this to play out.
But I would still be stepping aside before Fed day as it is a big volatility catalyst and is important for markets to digest. As with the others, I would stop out below the EMA(8) on a closing basis.
As always I hope this info helps. Feel free to leave your questions and feedback in the comments below. Have a great trading day ahead!
As always please read the Disclaimer below and linked Terms of Use. None of this information is meant to be investing or trading advice. It is instead presented for informational and educational purposes. The author has no position in any of the aforementioned securities.