Avnet, Inc. (AVT) has put in some powerful upside action over the past few weeks. The stock has been trading along a strong uptrend line, but has begun to show some signs of weakness at 36. AVT attempted to push through 36 on a prior move with no success. The stock is once again testing the new found level of resistance today.

Should AVT manage to close above the 36 price level, I will take a much closer look at the stock for a potential long position. A quick glance at some secondary indicators shows some signs of an over extension in the stock, but further analysis may prove otherwise. For the time being, watch for a close above 36.



VCA Antech, Inc. (WOOF) has recently been putting in some bullish price action with solid volume to back it up. The stock is trading well of its initial uptrend support line, and is now moving toward previous high resistance at 36.50. The resistance level is strong, therefore making it very relevant in WOOF's analysis.



Considering WOOF is approximately 50 cents away from the 36.50 resistance level, I will monitor the stock from here. Once WOOF is able to close above 36.50 for two consecutive days, I will highly consider a long position.

Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.