5 auctionable price patterns

We have got here five price patterns for you to ponder , while the Fed ponders what to do with interest rates.
let’s take a look at five price patterns worth following.

AKSteel Holding (AKS) – Bullish Flag
stocks of steel looks like a steal right now. They’ve weathered the recent market storm remarkably well. Look to AKS to lead another leg higher in this group if the broader market stabilizes or if it wud turn higher. We think the steel stocks represent one of the best bullish ideas right now. Look to AKS and others in the group to surge higher IF the broader market rallies.

DB Commodities Tracking Index Fund (DBC) – Bullish Flag
if you are not sure and nervous about the current volatile climate then turn your focus to exchange traded funds (ETFs) . ETFs provide you with instant diversification and, consequently, less risk than individual stocks.

One ETF that we’ve been watching for a long time is the DBC. It’s a fund that’s benefiting from the boom in commodities. The DBC recently broke out from a short-term bullish flag and it’s trading right at all-time highs!

Cubist Pharmaceuticals (CBST) – Bearish Wedge
The breakdown in CBST looks nasty. The bearish wedge took about six months to form, which means the stock most likely is expected  to fall over the next few months. It’s oversold in the short-term, so look for a better entry point on a retest of previous support near $19.50 to offer a better risk/reward entry.

Lincare Holdings (LNCR) – Bearish Wedge
LNCR just broke down from a bearish wedge yesterday. Look for previous support at $33 to serve as resistance going forward. A short-term bearish price objective might be targeted at $29.

KKR Financial (KFN) – Bearish Pennant
The private equity business went from boom to bust in a hurry as the credit markets seized up. The bust has been reflected in KFN, which traded down to single digits back in August. But since its sharp rebound from these lows, KFN hasn’t been able to mount much of a bounce. It’s been stuck in a tight range, tracing a bearish pennant. If today’s rally stalls in the coming days, look for KFN to rollover from downward sloping resistance and possibly breakdown from the bearish pennant.