Long Setups

Embraer Aircraft (ERJ) is bouncing off 61.8% Fibonacci retracement. 50D SMA is crossing over 200D SMA and MACD is giving a buy signal. Resistance is near 36.62. The stop below recent low of 32.82 and the ABCD pattern measured (AB:CD) target would be near 39.65 giving 2.9 reward-to-risk ratio.

Excel Trust Inc. (EXL) is making a bullish flag. A break above the channel line will give a nice trade. The stop is below 12.35 and the target is near the full length of the pole, 14.17, for a reward-to-risk ratio of 6.

Healthcare Realty Trust (HR) is also making a bullish flag. A break above the flag will produce a trading opportunity though the conservative signal is above the recent top. The stop is below recent low of 23.08 and is 3% below current levels. The measured target (flagpole) is near 27.17, which is 14% above current levels.

Chefs’ Warehouse Inc., (CHEF), a Consumer Staples company is bouncing off the oversold territory presenting a short term trading opportunity with stop below the recent low of 19.78, which 3.9% lower, and target near the high of 24.19, which is 17.5% higher.  Though there are minor resistance levels before the target.

Other interesting but not very convincing or high probability long setups include: Aberdeen Asia-Pacific Income fund (FAX) and many gold related stock: iShares COMEX Gold Trust (IAU), Pretium Resources Inc. (PVG) and Sandstorm Gold Ltd. (SAND).

Short Setups

Many NASDAQ stocks are presenting short opportunities, albeit high risk ones as the market bias is still up. These include Astec Industries Inc., (ASTE), Boston Private Financial Holdings (BPFH), First Republic Bank (FRC), Green Plains Renewable Energy (GPRE), Globe Specialty Metals (GSM) and Ski-Mobi Ltd (MOBI).

Some potential short opportunity setups are forming for American Axle & Manufac.(AXL), Hibbett Sports Inc. (HIBB), Hologic, Inc. (HOLX), iShares FTSE EPRA/NAREIT Global Real Estate ex-U.S. Index Fund (IFGL), MAXIS Nikkei 225 Index Fund (NKY), Peoples Bank (PBCT), Pennsylvania REIT (PEI), THL Credit Inc. (TCRD), and Vanguard Pacific VIPERs (VPL). A break below current levels or recent lows will present the opportunity. These are high risk setups.