Yesterday's market was somewhat lackluster as commodities sold off and financials did not get the push we expected. Today there are a few earnings plays to look at. A lot of stocks are approaching 50-day moving averages and there is resistance across the board. Another down day may be required before making the next push higher. The trade today is PWRD, an IBD favorite, that has formed a long term flag. Look to buy above 39 on a break above the flag with a short-term target of 42. Place the stop loss at 38.
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