A Few Setups, Week of Feb 28

Did some scans and found a few setups that I'll be watching this week. There are many breakouts with one caveat. Low volume. The market action on Friday felt choppy and although there were a lot of big moves I'm not convinced that we'll see follow through on Monday. So, going into the new week, I continue to hold some long positions and am watching for any new opportunities. In addition, some of the stocks outlined here are reporting earnings this week so patience is the key.

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$ICON Nice retest of previous break. Move up on strong volume. MACD/RSI confirming. Up against LT resistance on weekly. Break through takes it to new highs.

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$KEG  Earlier B/O then rest. Break on volume with rising MACD/RSI. Good sector; Oil and Gas Drilling. Above 15.50;17 then 20. 

Others in this sector with high volume Friday: $RIG $PDE $NE $PKD

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$LFUS Third time's the charm. Break of resistance with volume. MACD/RSI need to confirm. Long over 53.60.

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$CSU Moving up on huge volume. MACD/RSI rising. Long on any pullback to 7.50. Earnings Mar 2. Above weekly support.

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$BOOM No I'm not making this up. Not sure if the ticker was made up after Friday's action but the chart speaks for itself. Break on big volume. MACD/RSI curling up. MA Crossover. Long on any pullback to 23.90.

Also in this sector $ZINC $TRS

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$TWI On the move again. B/O with volume and nice follow thru. MACD/RSI moving up. Be careful of this bad boy. Still 19% short float and he'll take you out to the woodshed in a heartbeat. Watch your stops.

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That's it for today. Position breakdown as of Friday's close:
Long: $CNU $PDS $QGEN and $SNH
No short positions. I closed out $SCS and $SHOR. Charts still say down and I'm not sure if they weren't just caught in Friday's rising tide. Time and price action will tell.

See you in the AM. Be safe; be well. Good trading.