Almost breakout Aug 23, 2014

Just two new stocks came up on my filter which are worth mentioning here. They are $ELP and $PTR.

Here are the charts and some thoughts along with them.

$ELP has gone up from $10 to $17.50 in the past 6 months. It seems like it is hesitating to go further up. In the past 30 days it bounced off the peak of $17.50 and is trying again to test that resistance level and this time it seems weaker. I would bet on it going down in the coming couple of months and not up from here. A nice vertical put spread is possible here.


$PTR has a similar pattern to $ELP, it too had a run up for 6 months and seems like it is hesitant to break above $141. A nice potentially profitable vertical put option spread can be entered here. This stock looks like it is headed south at least temporary in the near future.PTR_Aug23_2014