QEP, SCS, and HAL could be low risk long-term buys

QEP Resources Inc. – QEP has been consolidating around the $9.50 level over the last month, although it still in a downtrend.  This is the same level that it found a bottom at in early 2016.  If you are Bullish on the prospects of this company this is probably a good time to buy it.  A possible strategy would be to buy it once the downtrend line is broken.  There is nothing mysterious about trendlines.  They are simply graphical representations of the forces of supply and demand.  When something is in a downtrend it means that the forces of supply are in control of the market.  When the trendline is broken, it means that the forces of demand have taken control, or at least have become equalized with the supply forces.

 

Steelcase Inc. - SCS found support around the $13.50 level after the recent selloff.  This is the same level that was support during last summer.  If you are bullish on the fundamentals of this company, this would probably be a good time to buy it.  If it does rally, there will probably be resistance around the $15 level because this was the top in August and September of 2016. 

 

Halliburton Company – HAL is again testing support around the $41-42 levels.  These levels were support from June through September of 2016.  They were also support in June and earlier this month.  Each time was followed by a move upwards.  If you are Bullish on this stock, this would probably be a good time to buy it.