Best of StockTwits Charts: Turnaround Stocks Friday

StockTwits

The StockTwits Charts Stream gets filled daily with thousands of stock charts created by the largest real-time trading community in the world. Below are a few notable ones for your perusal:

We are always on the lookout for stocks that have been beaten down badly but show signs of a potential turnaround. Often, these names are heavily shorted and so with a bottoming process occuring and some momentum, they can really get going. Here’s three potential turnaround trades from some of the best of the StockTwits community.

If you trade these names, it is wise to define your potential exits beforehand as they can be extremely volatile.

1. Cliffs Natural Resources (CLF) – Pro trader,  @jackdamn, likes CLF here. He notes the move above significant resistance at 24. Also, note the rounded bottom with the July low around 15.

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(See @jackdamn’s original StockTwits post here.)

2. Walter Energy (WLT) – @TraderRL23 brings our attention to WLT which has been crushed for 2 years, along with the entire coal industry, from a high of 140 in 2011 to a recent low just below 10. He notes the move off the bottom and the potential to fill the gap above 13. Also, a double bottom would be confirmed above the July highs in the 14 range.

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wlt8913

(See @@TraderRL23’s original StockTwits post here.)

3. BlackBerry (BBRY) – Last, Antonio Costa posted this hourly Blackberry chart. He notes signs of life including the new monthly high of 9.93 and the attempt to break above a 200 hour moving average whose slope is flattening.

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(See Antonio Costa ’s original StockTwits post here.)

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