With the markets exuding volatility this week when you can find names that trade tight and even breakout from taut flag patterns you should take notice. Actually anytime a stock ignores tough tapes it is a good sign going forward for those particular names. Here are some flag patterns from Game Plans this week that are currently working out and the way they were presented precisely.
Stocks that can be bought as they take out bullish ascending triangle formations are CMPR. CMPR is a business card firm up 13% YTD and by 75% over the last one year period. The stock has put back to back solid earnings gains of 13.6 and 16.7% on 1/29 and 10/30. CMPR is lower 4 of the last 6 weeks but all of the down weeks came in soft trade, including last weeks 2.8% drop which was comforted by 50 day SMA support. That line was stern support throughout the month of January as well. Notice how the round 80 handle has been supportive since the big earnings move on 1/29 (one CLOSE below on 2/3) and the stock has traded in a tight range creating an ascending triangle. Buy stop above the pattern at 85.50.