On Hold
People are waiting for the Fed. Enough said.
Today’s Watchlist:Â Â
(
ONXX |
Quote |
Chart |
News |
PowerRating),
(
MIPS |
Quote |
Chart |
News |
PowerRating),
(
QLGC |
Quote |
Chart |
News |
PowerRating)
Onyx Pharmaceuticals
(
ONXX |
Quote |
Chart |
News |
PowerRating) has retraced to the trendline
that formed following its late July breakout. The stock has now set three lower
lows since its mid-August high. Watch for a reversal move today or Wednesday.
Pullback traders may look for entry points on a move back above the intraday
high from Monday. Onyx may attempt to fill the gap from Monday.Â
MIPS Technologies
(
MIPS |
Quote |
Chart |
News |
PowerRating) has been consolidating near resistance for the
last three days. As we watch for a breakout above this key level, let’s also
take note of the potential upcoming resistance levels. Look for a move above
Friday’s and Monday’s intraday highs for a potential breakout. More conservative
traders will want to watch for a closing move above 57, followed by a
continuation on the following day.
QLogic
(
QLGC |
Quote |
Chart |
News |
PowerRating) tested resistance on Monday but closed in the middle of its
range. Watch for a move above Monday’s intraday high. Should it close above that
level, we will then monitor for a continuation day to offer a a long
opportunity. Most stocks are idling on Tuesday until the announcement, so we
will have to wait until after 2:15 PM ET to see where it’s going to go. Pullback
traders may want to watch for another trade based on a bounce off of the 50-day
MA.
Until later,Â
Check back at 2:00PM ET
for Trading the Techs PM.
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