Although I think the bears’ case for a stock market decline is getting stronger, there has yet to be a trigger to get them fired up. Until that happens, we can miss a lot of opportunity sitting on the sidelines. That’s why I’m currently looking for short-term bullish opportunities. And right now I like workforce staffing company ManpowerGroup (NYSE: MAN). This week, the stock, along with many of its peers, broke out from a month-long consolidation pattern. Manpower sports a good technical configuration, trading above all of its long- and short-term moving averages. When a stock… Read More
Although I think the bears’ case for a stock market decline is getting stronger, there has yet to be a trigger to get them fired up. Until that happens, we can miss a lot of opportunity sitting on the sidelines. That’s why I’m currently looking for short-term bullish opportunities. And right now I like workforce staffing company ManpowerGroup (NYSE: MAN). This week, the stock, along with many of its peers, broke out from a month-long consolidation pattern. Manpower sports a good technical configuration, trading above all of its long- and short-term moving averages. When a stock trades above all relevant moving averages, we know the trend is up regardless of your trading time frame. #-ad_banner-# MAN’s November dip bottomed out in the vicinity of the key 50-day and 200-day averages. And throughout late November, it found support at shorter-term averages from the 30-day to the 10-day. Therefore, we have to conclude that the rising trend from the September low remains intact despite what looked to be excessive volatility last month. With that in mind, Tuesday’s upside breakout from a one-month countertrend decline looks buyable. And, as mentioned, many of Manpower’s peers are… Read More