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Weekly Tech Charts & Report - August 23 - by TradesAfterWork

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Via -TradesAfterWork

Posting this to share with our readers: (We really like these Weekly Technical Briefs by TaW).

$FDX is one of the 3 stocks we bought this week. From a technical story, I like the fact that the PPO, Stochastics and RSI are all positive. The stock appears to be building a sideways base at this time. It is a little further away from all its moving averages than I typically like, but all in all it looks good.
$ODFL is the 2nd stock that we bought this week. All of its prices are above its key moving averages, and the PPO just crossed positive. I think that the chart looks orderly, and I believe that prices might to continue to climb higher.
$JD was bought on Thursday of last week. This stock has also gotten pretty far away from its major moving averages, but I believe that may be due to the strong gap up in prices that we saw last week. The stock looks like it may have gotten ahead of itself, but then again maybe it's just strong price action. We shall see.
Our stock pick for tomorrow morning is $BJ. BJ or BJS Wholesale Club is in the Retail-Discount Group. The chart below shows that BJ PPO has just gone positive. It also looks like the price action may have just broken out with a new 52 week high. BJ can be bought at the activate price of $46.69.

If you have any questions or I can be of any assistance please don't hesitate to contact me.
Take Care!
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Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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