Gen-Probe Inc. (GPRO)- Monthly Chart
I want to bring up GPRO. I would like to point out why I like GPRO. On the monthly chart, GPRO is in a long rectangle / slim jim. I like to trade slim jim's because once they break out they have explosive moves. This pattern has one of the highest success rates. However, trading a slim jim requires patience. Therefore, if you have none, do not trade this pattern. The pattern just coils and coils in a sideways move, and then you have the blast off upon break out. Typically, these patterns require a catalyst, such as news, for a break out. Furthermore, the breakout will be picked up by algorithm programs that spot the Intraday breakouts which will add even more momentum to the stock move. GPRO is bullish on all time frames. It is one of my favorite stocks. Again, indicators and oscillators are bullish. My target is in the $70.00 -- $80.00 range once it breaks out above $53.00. There is also huge short interest in this stock which should propel it higher. GPRO will not get momentum until all the biotech's start to make 52 week highs together.
Newmont Mining (NEM) - Monthly Chart
The monthly chart illustrates that NEM hit a new all time high today at $60.34. That was my original price target. Remember higher highs are bullish. I issued another buy alert on the last dip. Therefore, I am raising the price target to $70.00 range. As you can see, NEM has been in a bullish trend and looks poised to move higher. Indicators and oscillators are moving up along with price, and you can see that the PPO is starting to reverse upwards, indicating that the move is still in its early stages. Furthermore, volume is expanding along with higher prices. The precious metals sector has been the second best performing sector after the energy sector.
Natural Gas Services Group (NGS)- Weekly Chart
I sent out a buy alert on NGS this week, which is also when the stock scan picked it up. Entry was triggered at $18.44. However, breakout did not occur until $19.23. On the weekly chart, NGS has broken out of the falling wedge reversal. It is in a falling wedge continuation triangle. Indicators and oscillators are still bearish, but oversold, and looking for a trend reversal. I have added it to the portfolio table. I do not recommend trading options on it. This week NGS is up 20% from entry and it looks like further gains are possible.
GPRO
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