PBR and SJM Long

The setup SJM is in an uptrend. The stock gaps up and filled the gap after four consecutive down bars. Then the stock trade sideways for another five days breaking thru the 10MA and 21EMA. Today a hammer was formed and close the day above the 34EMA. Notice that an uptrending trendline have also converged to meet the 34 EMA and the lows of the day. This is a bullish sign.

Bought 75 shares of SJM for $51.51 including commission. Stop at $50.46

The chart of PBR is extremely oversold. The candlestick yesterday is considered a COG (changing of the guard from Oliver Velez trading book) the price close the day in positive territory. Volume is also fine. A resistance around the 41 area will be tested soon price action today was not enough but it was able to close above its low on good trading volume. Bear has some strength left but its weakening.

Bought 100 shares of PBR yesterday at $40.04 commission included. Stop at $38.61