Trading Portfolio: 247Bull goes long HCP, Inc.

The 247Bull Trading Portfolio is dedicated to taking advantage of trading opportunities that arise within the markets. This article provides an update on existing trades, new trades, and possible future trades.

Existing trades

On 22 January 247Bull went long Kimberly-Clark at $87.25 as it broke above its October 2012 high. Since then the stock has pulled back, but it remains above the initial stop loss which sits at $85.00.

A 1 year daily chart of Kimberly-Clark Corporation (NYSE:KMB) (Click on the chart for a larger version)

A 1 year daily chart of Kimberly-Clark Corporation (NYSE:KMB) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

New trades

On 25 January 247Bull went long HCP at $46.94 after it breached previous overhead resistance. A stop loss has been set at $45.90.

A 1 year daily chart of HCP, Inc. (NYSE:HCP) (Click on the chart for a larger version)

A 1 year daily chart of HCP, Inc. (NYSE:HCP) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

Possible future trades

Since adding M&T Bank Corp. to our list of possible future trades it has pulled back from overhead resistance and remains in a consolidation phase.

A 1 year daily chart of M&T Bank Corp. (NYSE:MTB) (Click on the chart for a larger version)

A 1 year daily chart of M&T Bank Corp. (NYSE:MTB) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

Another stock we are keeping an eye on is Kimco Realty Corp. which has recently rallied strongly and is on the verge of staging a breakout. However, a decisive break above the upper blue resistance line is still required.

A 1 year daily chart of Kimco Realty Corp. (NYSE:KIM) (Click on the chart for a larger version)

A 1 year daily chart of Kimco Realty Corp. (NYSE:KIM) (Click on the chart for a larger version)

Chart courtesy of stockcharts.com

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