Strong open-close reversal signal on Americas Petrogas [BOE], identified on March 1st. Great entry point on recovery above $4.00.
Canada TSX: Momentum trades
Bullish
- New Zealand Energy [NZ] ~ respected support at $3.00; breakout above $3.80 would confirm another primary advance.
- Rio Alto Mining [RIO] ~ narrow consolidation favors breakout above $4.70, signaling a new advance; support at $4.30.
- Roxgold [ROG] ~ good support at $1.90, breakout above $2.15 would signal a new advance.
Watch for breakout
- Tri-Oil Resources A [TOL] ~ narrow consolidation between $3.50 and $3.80 but strong bearish divergence on 21-day Twiggs Money Flow
- Argonaut Gold [AR] ~ strong resistance at $10.00, support at $9.00
- Atna Resources [ATN] ~ support at $1.25, resistance at $1.50.
- Northern Graphite [NGC] ~ 21-day Twiggs Money Flow below zero is bearish but ascending triangle below $2.20, breakout would signal a fresh advance.
- Pretium Resources [PVG] ~ breakout above $18.00 would signal continuation
- TAG Oil [TAO] ~ testing resistance at $10.00
- Americas Petrogas [BOE] ~ testing support at $4.00, respect would favor breakout above $4.50 and a fresh advance.
![Americas Petrogas [BOE]](https://i0.wp.com/www.incrediblecharts.com/images/2012/2012-03-12-ca-boe.png?w=1140&ssl=1)
- Coastal Energy [CEN] ~ recovered above $20.00, follow-through above $21.00 would confirm a fresh advance.
![Americas Petrogas [BOE]](https://i0.wp.com/www.incrediblecharts.com/images/2012/2012-03-12-ca-cen.png?w=1140&ssl=1)
Negative Watch
- Silvercrest Mines [SVL] ~ strong bearish divergence on 21-day Twiggs Money Flow followed by sharp drop to test support at $2.50.
- Madalena Ventures [MVN] ~ long correction, headed for test of $1.00.
US Momentum stocks to watch
I set up a stock screen for strong Momentum stocks on Incredible Charts Shared tab (#49419) to run every weekend. Here is a list of the most promising:
- Arctic Cat [ACAT]
![Arctic Cat [ACAT]](https://i0.wp.com/www.incrediblecharts.com/images/2012/2012-03-06-acat-us.png?w=1140&ssl=1)
- Cheniere Energy [LNG]
- DXP Enterprises [DXPE]
![DXP Enterprises [DXPE]](https://i0.wp.com/www.incrediblecharts.com/images/2012/2012-03-06-dxpe-us.png?w=1140&ssl=1)
- Healthstream [HSTM]
![Healthstream [HSTM]](https://i0.wp.com/www.incrediblecharts.com/images/2012/2012-03-06-hstm-us.png?w=1140&ssl=1)
- Lion’s Gate Entertainment [LGF]
- Liz Claiborne [LIZ]
- Pharmacyclics [PCYC]
- Regeneron Pharm [REGN]
- Select Comfort [SCSS]
- Sourcefire [FIRE]
- United Rentals [URI]
- Vocaltec Comm [CALL]
Bear in mind that the market is starting a correction and suitable entry opportunities may only present themselves in 3 to 6 weeks, but I have added them to my watchlist and will re-visit weekly.
Canada TSX: Momentum trades
Bullish:
New Zealand Energy: Reversal above support at $3.00.
Rio Alto Mining: Respected support at $4.25.
Roxgold: Strong recovery above $1.90/$2.00 support band.
Watch for breakout:
Tri-Oil Resources A: Narrow consolidation suggests upward breakout.
Argonaut Gold: Bearish divergence on 21-day Twiggs Money Flow indicates selling pressure at $10.00, but narrow consolidation suggests upward breakout.
Atna Resources: Narrow consolidation below $1.50 suggests upward breakout.
Northern Graphite: Bearish divergence (21-day Twiggs Money Flow) indicates selling pressure at $2.00, but respect of $1.80/breakout above $2.20 would signal another advance.
Watch:
Pretium Resources: Short candles suggest more resistance at $18.00.
Negative watch:
Silvercrest Mines: Strong bearish divergence on 21-day Twiggs Money Flow suggests reversal.
Madalena Ventures: Breach of rising trendline and bearish divergence on 21-day Twiggs Money Flow suggest another test of $1.00.
TSX Momentum trades: Americas Petrogas [BOE]
Americas Petrogas was identified as a Momentum Trade using Incredible Charts screen #48894.
![Americas Petrogas [BOE]](https://i0.wp.com/www.incrediblecharts.com/images/2012/2012-03-01-boe-ca.png?w=1140&ssl=1)
Narrow consolidation is bullish and Thursday’s long tail/hammer candlestick indicates good support at $4.00.
Momentum trades: Northern Graphite Corporation [NGC]
NGC turned up in my Momentum Stock Scan, but bearish divergence on 21-day Twiggs Money Flow warns of short/medium-term selling pressure.
But respect of the bottom trend channel (at $1.80) and recovery above $2.00 would mean all’s forgiven and we can expect another advance.
Singapore SGX: Top Momentum stocks
Yoma (Z59) breakout above 0.50 would signal another advance. Both Twiggs Money Flow and Momentum are bullish.
I also like the look of Sky Holdings, Interra Resources and Ezion Holdings:
Although Ezion faces some profit-taking at 1.00 that could slow a further advance.
Canada TSX: Top Momentum stocks
Interesting new stocks on my Top Momentum stock screen (Incredible Charts #48894):
Northern Graphite (daily chart)
Atna Resources (weekly chart)
Connacher Oil & Gas (weekly)
Imperial Metals (weekly)
