Wednesday, October 29, we had six Stocks to Watch on our radar. Three of these had profit opportunities.

Companhia de Bebidas (ABV) was a Line Drive long for Wednesday’s Stocks to Watch trade list. ABV hit the entry level shortly after opening below yesterday’s closing high. ABV traded straight to the R1 pivot level. Exit was at the bounce off of this level.

Companhia de Bebidas (ABV), 5-Minute Chart


Autozone Inc (AZO) was a Fast Ball long for Wednesday’s Stocks to Watch trade list. AZO triggered in the morning after a small pullback. Exit was either at the R1 pivot when AZO baubled, or if the stop was wider, at the R2 pivot.

Autozone Inc, 5-Minute Chart


TGI (TGI) was a Fast Ball long for Wednesday’s Stocks to Watch trade list. TGI opened and pulled back some to a consolidation before breaking out long again to the long side providing an entry with an exit at the failure to break through the R1 pivot. Another entry was possible as TGI traded up out of a consolidation along the rising trend of the lows. Exit for this entry was again at the R1 pivot.

TGI (TGI), 5-Minute Chart


Extra Innings and Opportunities for Thursday, October 30, 2008:

Potlach Corp (PCH), 30-Minute Chart


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Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at julie@traderinsight.