Market Scheming

Friday, July 22, 2011

Maple Leaf Foods (TSX: MFI), Essential Energy Services (TSX: ESN), High River Gold (TSX: HRG)


Maple Leaf Foods (TSX: MFI)


Maple leaf foods have been working through a 6 month triangle.  Today there was a break in the price down almost 4%.  However, monitor this stock as if this break turns out to be a fail move, the upside potential is quite large.  Therefore buying at 11.80-11.90 with a very tight stop could be a low risk high reward trade. 


Essential Energy Services (TSX: ESN)


Essential Energy Services on strong volume confirms the move yesterday.  It is at bollinger band limits but over the next 2-3 weeks I would expect continuing bullish action unless oil crashes dramatically.

High River Gold (TSX: HRG)


High River Gold - HRG - Has had a sharp pull back into strong support.  The 20, 200, 50 Moving averages will provide support, with rising gold prices seeing a price of  1.50 is within a few months is more likely than not.

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