Potential Trend Trade: ANW

Lately, I've been mainly focusing on Forex and Commodities because the stock market has been choppy but now that we're in the new year it's time to start paying more attention to stocks as traders come back from there holiday vacations. I've slightly revamped my stock screening and tracking approach and am now watching around 50 stocks at any given time. The main screen I use is set up to catch stocks that are either beginning or about to begin an uptrend. I will update the screen every other week and I will be keeping track of all the stock charts using Stockcharts.com's candle glance feature.

Candle glance is an excellent resource that allows you to monitor and review the charts of ten stocks on one screen. I enter all of the symbols from my stock screen into multiple candle glances and then book mark each set of 10 stocks to allow for easy daily and weekly monitoring.

One stock that is looking particularly good is ANW. In particular, I like that this stock has recently broken out of short term resistance after a rounding bottom formation and it has entered an uptrend. Also, I like that the 20 day ema is rising and is above the 50 day sma, indicating an uptrend. The On Balance Volume (OBV) is also trending up, which shows that shares of this stock are in an accumulation stage. Here is the chart:
As always, only time will tell with this stock, but at least for now it looks like there might be a promising trade with this stock.

Good luck out there.

TLT