Three Ideas for the Week

With the federal reserve interest rate decision out of the way, here are a few ideas for the week. Most of the charts look similar. They all have been consolidating nicely and if the market remains healthy, there could be some movement higher. These charts are from the closing of 2/2/24.

First up is PATH. This tech company had a nice pop recently and has moved sideways. It's possible the gap below could become filled eventually but if markets remain strong, then it will be a while before that happens (if ever). I would consider an entry at the break of the wedge with a stop near the prior swing low.

FLR is an industrial company that can do well if construction and infrastructure spending continues. It's staying above the key moving averages for now. If it does not hold the prior swing low, then the 200sma could come into play and present a better buying opportunity.

FCX (materials company) has a similar look at the two above. One notable difference is that it is not too far above it's 200sma. If it continues to consolidate in this area, then it should do well.

Do your own research and analysis before entering any of these positions and take the appropriate amount of risk.