Signals of the Day – July 12th

Hello all and welcome back to SW! Let’s get down and dirty with three new buy signals on ALL, JNJ and QCOM.

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First up, Allstate.

CTX-1 likes the trend on ALL.

CTX-1

We have a great trend going on ALL and now a new entry opportunity is forming with a new higher low. ALL is oversold on the Classic RSI and is about to test the 50 SMA, which is also support, making it a natural pivot point. Volume is low but when we see a pop, that should signal the beginning of the next round of buying.

This signal was fired by CTX-1, which is making its SW debut. The CTX-1 Trading Strategy is designed to identify profitable swing trading opportunities using reversion to mean trading signals. The Strategy uses the CTX-1 System to identify extreme oversold conditions in the chart. The Strategy is long only and utilizes the CTX-1 Stop to capture quick profits. The strategy is looking for very short term moves averaging a trade length of around 3 days. This minimizes market exposure while taking advantage of quick moves. The result is a Strategy with a very good accuracy rate that leads to consistent profits.

The strategy is based on a concept called Reversion to the Mean (or Mean Reversion). For our purposes, Reversion to the Mean can be defined as a stock that has moved a significant amount away from its average price (or mean), and it is poised to return (or revert) to the average. This signal is part of our Ultimate Swing Trading Package 2, which you can read about more here.

Next on the agenda, JNJ.

Another great swing trade found by CTX-1, this time on JNJ.

CTX-1

Another CTX-1 signal? You better believe it. Why? Because this is a stellar swing setup. A new higher low? Check. Oversold? Check. Testing a moving average? Check. Volume increasing? Check! Looks good from our seat. If we see JNJ pop, it could run back into the $136 zone.

As stated, this is another CTX-1 signal from the USTP. I’ll spare you the rundown here, but if you’re interested click this link or check out ALL above.

Last but certainly not least, QCOM.

Who loves Darvas signals? We do! And we have a beaut on QCOM.

Darvas Nirvana

QCOM is looking good in terms of making a break out of a Darvas Box with upper boundary settling right at $56.20, which is also serving as resistance and is just below the 50 SMA. QCOM is still close to being oversold as well, which gives a nice buying advantage in terms of price improvement. If this breakout does materialize, we could see a move in the $58-$59 zone in a hurry.

This signal is brought to you by the Darvas Classic Strategy which is part of our ever-popular Darvas Box Suite. These strategies are riffed off of Nicolas Darvas’ work, the Darvas Box Theory, which has been used by oodles of traders for years to produce large and consistent profits. What the Darvas Box is looking for is essentially increases and decreases in momentum. The Darvas strategies use market momentum to enter and exit trades. If a stock’s price breaks out of a Darvas Box or reverses off of a Darvas support level it is a considered a nice buy signal candidate. As we see, QCOM is about to break out of a Darvas Box to the upside. You can find the Darvas Box Suite here.

That’s all for now. Have a wonderful day and we’ll see you next time.

The products and demonstrations listed on this website are not recommendations to buy or sell, but rather guidelines to interpreting their respective analysis methods. This information should only be used by investors who are aware of the risks inherent in trading. Nirvana Systems shall have no liability for any investment decisions based on the use of their software, any trading strategies or any information provided through other services such as seminars, webinars, or content included in the SignalWatch website.