Here is my list of top defensive plays going into April. If you're looking for some nice defensive stocks to go along with the rest of your long positions in the portfolio, then take a look at the list of stocks below that are more defensive than growth oriented. They are stocks that shouldn't see a lot of volatility and won't fall through the floor, should this market experience some additional selling going forward. In essence, these stocks represent a good balance of companies that are dependable, stable, usually collect a respectable dividend and hold their value all at the same time.
A few of them really stick out as desirable trade setups, with the best one being Home Depot (HD), as it is getting ready to break out of an inverse head and shoulders pattern, and should it do so, would likely make a run somewhere around $40. Enersis (E) is another trade setup that has some potential, with it being on the verge of breaking out of its descending trend-line off of the February highs. And finally, check out Goldcorp (GG), which is forming a cup and handle pattern at its highs. Should gold continue to surge, this one could see a move into the mid-$50's or higher.
Here are My Top Big-Cap Stock Plays.
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Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>