Just had a quick look through the charts for my watchlist and noted the following points regarding stocks that I do not have open positions in at present.
Iron ore stocks are all oversold. For example, AGO, ARI, FMG, MGX, and RIO. JP Morgan is ‘re-weighting’ RIO as discussed here. Hence, if the iron ore price steadies as well, we may see long trade opportunities in RIO and the other stocks listed above.
CSR is looking interesting, almost oversold, could be a long target.
IAG is not exactly overbought, but is perhaps heading towards becoming a short target.
MML is almost oversold.
ORG is a short atm, but unfortunately I have already been stopped out of this one.
