Last night while scanning through small cap and below I came across these two stocks. I found SHIP interesting because the 50 SMA has crossed over the 200 SMA recently and its approaching a resistance of 1.29. I think that if it makes it through this resistance on good volume it may be poised for a large breakout. NM looked as if its 50 SMA is about to cross the 200 SMA and its currently at resistance of 1.78. It also looks like it pushed through the upper Bollinger band on Friday. I think that if this one opens above 1.78 Monday it could run to 2.00. Does anybody have any thoughts on these stocks or observations?
Trading technicals like that works, until it doesn't I know thats cryptic, but using cross overs as your main indicator should be just one tool in the box that you use. SHIP looks interesting, if it can break over $1.20 with volume, that might be a good one!
