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Friday, July 10, 2009

Trade Ideas for next week - Arch Coal, American International Group and Yahoo

Chart courtesy of www.stockcharts.com ( click to enlarge )

ACI made a strong upside reversal this week. The near-term trend does not appear bullish, therefore there is no reason to invest in this stock now. Fresh exposures may be considered once the stock stabilises and gets into an upward trending mode. The technical chart above suggests that stock might find now resistance at $14.50. Only a close above this level would suggest further upside. Remain invested with a stop loss at $13.85.

Chart courtesy of www.stockcharts.com ( click to enlarge )

AIG was the strongest stock on Friday. The stock reversed strongly to move to my short-term resistance at $12. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above $12.71 on heavy volume.

Chart courtesy of www.stockcharts.com ( click to enlarge )

YHOO - Despite weak signal from MACD in the chart as MACD and signal line are below 0, the technical daily chart shows this might be an interesting time to buy the stock as K line has just crossed on top over D line showing buy signal. However, the stock is still facing resistance around its 13-day moving average. Fresh long should be made only when the stock moves above this resistance level. The stock is currently in a downtrend.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you on Monday !!! Have a great and enjoyable weekend !!!

AC

Labels: ACI, AIG, YHOO

23:14 | Permalink |

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Best of luck in the markets,
AC Investor

21:29 | Permalink |

Thursday, July 09, 2009

Hot stocks for Friday - Ross Stores and DXP Enterprises

Chart courtesy of www.stockcharts.com ( click to enlarge )

DXPE failed to continued it’s bearish scenario today. The stock topped at 10.13 and closed at 9.99. On the daily chart we can see the short term bearish trend line has been violated to the upside. The bias is now bullish in nearest term but remains neutral in medium term. With KD rising we could see possible rally coming for the stock. In addition the RSI is extremely oversold. After the recent free-fall we may have found a bottom. Let's keep an eye on DXPE as i think momentum will pick up.

Chart courtesy of www.stockcharts.com ( click to enlarge )

ROST - The major resistance was broken at 40.92 on heavy volume. Buy trigger is clear, however beware of a possible fake move. ROST hit a high of $41.85, which is 0.71 cents above its resistance high of $41.16, set on September of 2008. This can be a very volatile and fast moving stock, so watch the stock closely. Technically speaking, the chart looks Bullish with both 20 and 50 daily moving averages going up and MACD indicator above its signal line indicating further strength. Short-term investors can buy with a stop at $40 and long-term investors can hold with a stop at $38.87. Let's keep an eye on ROST as i think momentum will pick up.

That's all Folks. See you tomorrow !!!

AC

Labels: DXPE, ROST

22:41 | Permalink |

Wednesday, July 08, 2009

Hot stocks to watch Thursday - Sirius XM Radio and ReneSola

Chart courtesy of www.stockcharts.com ( click to enlarge )

SIRI traded down over the last trading sessions, but not enough to make me stop watching. The volume was weak compared with recent sessions when prices rose, which means traders are not betting on the downside. I think the stock is still in a consolidation range, waiting to make a big move. This stock is going to have a big move and it should be to the upside.

A quick look at the technical chart :

1) SIRI is currently is moving down with low volume
2) 20 day moving average crossed the 50 day moving average to the upside.
3) 50 day moving average crossed the 200 day moving average to the upside.
4) Bullish divergence: price is decreasing, whereas MACD lines are going up.
5) RSI still above the neutral 50 level at 51, buyers strength still persists.
6) Stock made consecutive higher lows since June.
7) Major resistance (white line) was crossed to the upside a few days ago.
8) Money Flow-Index still climbing.
9) Golden Cross Activated !!!

Resistance stays at $0.484 for the upside move. Continue to watch SIRI because the stock should give us an opportunity for a good trade soon.

Chart courtesy of www.stockcharts.com ( click to enlarge )

SOL is currently in the fourth leg of the short-term bear market that began in middle of June. This down move has been halted around $5 area, but unfortunately for Bulls, this support has been broken today and the next resistance now exists at 4.10. The chart pattern does not inspire confidence and the stock could continue its downward trajectory. Never catch a falling knife in this market !!!

That's all Folks. See you tomorrow !!!

AC

Labels: SIRI, SOL

22:12 | Permalink |