Eye on SBUX, X, GPOR, SGMS  RSS

by Sinisa Persich, TraderHR.com, Wed December 12th, 2012

Starbucks Corporation (SBUX) is in a bullish flag off its December 6 gap-up of almost 6%. A move above the gap high of 53.70 could lead to a short-term target at 55.82. The stock has rallied from just under 45 in late October, after dropping from its all-time high set in April at 62, so has plenty of room for continued upside.

United States Steel (X) has been coiling in a symmetrical triangle consolidation for the last six months, and is approaching the declining tops line. A break above current levels could lead to a short-term target of 23.59, above its high from August, and signal a reversal of the downtrend from around 32 earlier this year.

Gulfport Energy Corp. (GPOR) is in a bullish flag after gapping up nearly 20% on November 28. The stock is at all-time higher, and at the upper trend line of the flag, after rallying from under 16 in late June. It is also above a key resistance line in the 37 area going back to March 2011. Today's break could lead to next targets at 40.62 and then 43.31.

Scientific Games Corporation (SGMS) has edged above a key resistance line in the 8 1/2 area after rallying sharply in November from 6.71. Short-term target is 9.