Tuesday’s Top Stocks From TradingMarkets
Both Nasdaq-100 Index
Tracking Stock (QQQ) and Diamonds Trust (DIA) failed to give us clear directions.
Each issue formed an inside bar just above its support level on light volume.
Are the market participants already worried about Wednesday’s Fed meeting?
TASER International (TASR) attracted a lot of buyers today. The
Transportation Security Administration (TSA) approved a major airline’s
application for the onboard use of TASERs by trained personnel. TASR closed at
54.11, up 16.4%.
Let’s look at three stocks for Tuesday:
Stillwater Mining (SWC): The stock looks ready to resume its downtrend.
It closed near a declining trendline and formed a narrow range bar. Short SWC if
it trades below 11.15. Place a stop just above today’s high (11.31). Our target
is near 9.50.
Yahoo Inc! (YHOO): The issue formed an inside bar just above the rising
20-day MA. We are looking for a resumption of the uptrend. Long YHOO if it takes
out today’s high (37.32). Target is the November 3 high (39.25), but 38 may
become a resistance. Risk 0.75-1.00.
Advanced Micro Devices (AMD): The stock bounced off its 10-day MA and
closed near the day’s high. Long AMD if it trades above 17.40. We are targeting
near 18.10. Risk 0.5.
Good night!
If you have questions, feel free to mail them to me.
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