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Keltner Channels Update on These Shares: BlueLinx Holdings Inc. (NYSE:BXC): 20 Day Upper Keltner Level at 27.83625614

There are plenty of different types of stocks that investors have to choose from. Some will opt to be more aggressive with their portfolios while others will choose to play it a bit safer. Blue chip stocks include companies that typically have a high market cap and have been profitable over a long period of time. Growth stocks are typically expected to have a high P/E ratio and a low dividend yield. The idea is that a growth stock will continue to expand and grow into the future. Many investors will be searching for value stocks. Value stocks are typically cyclical in nature and investors may be looking to buy and hold these types rather than try to squeeze out some short-term profits.

Traders following shares of BlueLinx Holdings Inc. (NYSE:BXC) may have noted that the stock most recently closed at 28.69. Going back a full-year, the stock has seen a change of -20.6362379 over that stretch. Taking the focus in to more recent action, shares have seen a move of 9.92337165 over the last week. Over the prior month, the stock has moved 35.13895431. Over the past three months, the stock has moved 41.60908193.

Many traders will look to optimize stock trades by using various technical indicators. The Ichimoku Cloud indicator is highly flexible and is commonly used in conjunction with the RSI to help confirm momentum and overall trends. Let’s focus on a few different Ichimoku readings on shares of BlueLinx Holdings Inc. (NYSE:BXC):

Ichimoku Cloud Base Line: 26.85
Ichimoku Cloud Conversion Line: 27.37
Ichimoku Lead 1: 24.010875
Ichimoku Lead 2: 22.81

There are multiple moving average indicators that traders may rely on when conducting stock research. One of the most popular is the Simple Moving Average. The SMA is unweighted, meaning that each period in the set of data is weighted equally. Looking at some SMA levels, we can see that the 10 day is 27.3635, the 20 day is 27.21825, and the 30 day is 26.78071. Tracking some other time periods, we note that the 50 day SMA is 25.054726 , the 100 day is 22.351088 , and the 200 day SMA is currently 22.650296.

Tracking some one month stock pivot points, we note that the Classic Pivot is 26.66, the Classic resistance 1 is 27.69, and the Classic support 1 is presently 25.07. The Fibonacci one month pivot is 26.66 while the Fibonacci support 1 pivot is 25.65916, and the Fibonacci support 2 is 25.04084. Looking at one month Woodie pivot, we note the level at 26.625. The Woodie support 1 pivot is 25, and the Woodie resistance 1 pivot is 27.62.

Traders focusing on technical analysis may be interested in following the Awesome Oscillator level. Currently, the reading is 1.38013765. Typically, when the Awesome Oscillator moves above the zero line, this would indicate that the short term momentum is rising quicker than the long term momentum. A cross below the zero line would indicate that short term momentum is dropping faster than the long term momentum.

Tracking the Hull Moving Average for BlueLinx Holdings Inc. (NYSE:BXC), we note that the current level is 28.99362963. The Hull Moving Average was introduced by Alan Hull. Swing traders often use this indicator in combination with other signals in order to help identify possible entry and exit spots.

Expanding the technical focus for BlueLinx Holdings Inc. (NYSE:BXC), we see that the Keltner Channels 20 day upper band is 27.83625614, and the 20 day lower band is26.28974618. The Keltner Channels indicator is similar to Bollinger Bands and Moving Average Envelopes.

As we close in on the end of the calendar year, investors may be trying to visualize potential trades for the New Year. There are many professionals that believe that there is still plenty of room for stocks to run even at current levels. Preparing the game plan for the next few quarters may give the investor some new ideas. Staying focused and maintaining discipline may help guide the investor to unchartered territory in the coming months. Tracking market events from multiple angles may also help provide some enhanced perspective.  

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