Here are two stocks well positioned for technical rally
1. Himatsingka Seide
The stock broke out above 64 in June 2014 and rallied to 102 by Sep 2014. Post that rally, stock has been in drift down move and now stands at 200 dma. Technically, stock is well positioned to rally. Any long position should be protected with stop loss below 78
2. Heritage Foods
Heritage Foods has been in strong uptrend for a while now. The stock current pullback to 200 dma can be perfect opportunity for buy the dips crowd. Doji at 200 dma looks attractive. Any long position should have stop loss below 336.
Remember - No stock can survive if market starts selling off sharply. That risk can always destroy any stock pattern in no time.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers