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Barron’s Followup for 3/2/2013 Edition

Posted on March 10, 2013 | Category: Barron's Watchlist, Charts | No Comments

A quick followup to last week’s Barron’s Watchlist. Only posting the charts that you would have acted on during the week, per my recommendations:

BBT
Broke recent high of 31.36 on Friday, went into the gap, but could not completely close it and ended the day only slightly above high (no position myself).
If you are long, in my opinion it is important for price to hold Friday’s Low.
bbt_0

COH
Holding above support and had 3 daily candlesticks completely above the then potential bottom 2/26. This is a good criteria to set bottoms, and one that has proven to work well in my experience (this filter is relative to timeframe. Daily = short term/swing. If you have a longer termed timeframe, you’d use weekly).
Posted on StockTwits & Twitter an updated risk/reward entry chart, showing 48.64 was the entry for 1:3, Stop at 47.40 and Price Target 52.35.
Of course you never blindly long a stock right at the entry point, you need all timeframes to confirm entry and especially intraday chart to show some kind of bottoming; don’t knife catch. This could have given you an even lower entry than 48.64.
Minimum +0.60% gain if you longed at 48.64, even better if you waited.
(Also I just noticed I accidentally posted a 6-day chart instead of daily on my post last week)
coh

CVX
New All-Time Highs.
cvx_0

HES
Broke out and holding support.
hes

PANW
Came down to 1:3 risk/reward ratio 55.28 and has held 50- and 100-day SMA’s.
Currently +1.2% min gain if you longed exactly at entry target. (would be slightly down, -.45%, if you decided to take 1:2 R/R).
panw_0

TWC
Worked it’s way up to 200-day SMA but struggling to break above. Mentioned last week “Enter this trade however you feel most comfortable. One way is to wait until we break above 200-day SMA.”
twc_0

WBMD
Had a strong week, breaking above resistance, but never longed this due to my prior stance of waiting for a throwback as I still believe it’s overextended. If/when we get a throwback now, I’d watch to see if this new support line can hold.
wbmd_0

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Written By: Karthik Sundaram

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