This weeks March Madness Stock match-ups saw lots of our contenders fighting to maintain recent momentum.  Many of our recent high flyers (with one notable exception) have cooled off and fallen to lesser (yet steady) performing contenders.

There are plenty of great examples of resistance levels putting momentum pressure on stocks, wedge patterns putting the squeeze on price points this week, successful break-outs and good ol’ positive price channels maintaining a winning record.

Lets take a look at some of them:

WEST

VCI and TWX go up against each other this week in the battle of the momentum charts.  VCI has successfully broken above resistance and is looking to maintain momentum and establish another good pattern.

TWX is staying within its upward moving price channel.

EAST

PCCC broke through top level of their rising price channel but may not be able to have what it takes to establish a new pattern. They lost their breakout momentum this week which was enough to lose to slow but recently steady ORCL.

MRH and ORCL both rising however ORCL has formed a rising wedge pattern which indicates it days may be numbered.

NORTH

BA – just like ACAS and PCCC experience a breakout at just the right time.  Unlike ACAS and PCCC, Boeing has the strength of hope and hype.  They seem to have a solution for their pesky little fire problem and they continue to receive new orders for more planes.

So, when will all this good news end? Will Boeing stock continue to take flight this week or crash and burn when the hype is over?

BKE – looks to have broken through two levels of resistance, and will attempt to not suffer post break-out disorder.

BKE has two potential patterns starting here – one a good rising channel – the other a rising wedge. The key will be how well BKE stays above its recent resistance levels.

CACC – recovers from the dreaded rising wedge to breakout above resistance and looks to establish a new and hopefully better pattern.  But they have a ton of pressure to overcome with trying to retain momentum above the break out and their rising price channel.

CROX – On the other hand, after successfully breaking out of a wedge pattern, continues its positive momentum trend upward well inside their newly established rising price channel.  Sometimes slow and steady does win the race.

SOUTH

Remember last weeks hype darling?  HIMX?

Well hype ran out almost as fast as it started.  Last week we debated if HIMX was nothing more than a classic pump and dump scam.  I think the sudden boost was, however, the stock itself is a good stock and just might benefit in the long run from this exposure and its potential relationship with Google Glass.  HIMX is still up quite a bit for the month of March, but they lost a lot of momentum last week and drop out of the tournament.

And to highlight our latest breakout star, perhaps peaking at the right time to carry itself all the way through to the end of the tournament:

GTIV – Wedge?  What Wedge – I’m breaking out-a-here!  GTIV had two really good support levels to bounce off of and looks to continue moving upwards in the coming weeks.  Will it be enough to win?

See Ya’ll Later!