5 Stocks You Need To Know About For Friday
Wall Street had a lackluster session
on Thursday. Weakness among tech stocks led to a modest retreat for
the Nasdaq, which recorded its lowest close in more than 5 weeks. The Dow pushed
into positive territory during the early afternoon, where it stayed for most of
the rest of the day. The blue chip average finished fractionally higher on the
session, while the S&P 500 finished fractionally lower. The Nasdaq was never
able to move convincingly above the flat line and closed with a modest loss. Dow
+4.22, Nasdaq -9.07, S&P 500 -1.22. NYSE Adv/Dec 1295/1954, Nasdaq Adv/Dec
1175/1835.
5 Stocks To Watch:
Allstate
(
ALL |
Quote |
Chart |
News |
PowerRating) looks like an
interesting chart. Notice how the RSI (5) failed to confirm the recent low in
price, a positive divergence. A good swing trade could be setting up with well
defined entry and exit levels. A break above Monday’s high could lead to a nice
gain with a stop below Wednesday’s low.
Marathon Oil
(
MRO |
Quote |
Chart |
News |
PowerRating) has declined to the 61.8% Fibonacci
retracement level of the July 18 to Aug 11 advance. The stock looks oversold on
a short term basis and could bounce from these levels.
Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) gapped down at the open on Thursday after announcing it
plans to sell $4 Bln in stock. Despite the news and negative start to the
session the shares climbed higher most of the day and closed near the top of the
day’s range.
Apollo Group
(
APOL |
Quote |
Chart |
News |
PowerRating) has been rallying for the past 2-weeks. The chart
looks interesting as the most recent decline failed to take out the July low and
the stock is now is approaching moving resistance formed July 27/28 and the 50
and 200-day sma’s. The 20-day sma has already turned up so a breakout here could
lead to nice gain.
Molex
(
MOLX |
Quote |
Chart |
News |
PowerRating) has been in freefall since July 27 but a positive
divergence is brewing that could lead to a bounce. The stock traced out a
similar pattern in late June, early July before the last move higher.
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Ashton Dorkins