Friday’s Top Stocks
In spite of yesterday’s
bearish closing, the major indices
reversed nicely by forming hammers on the daily charts today. Normally this is a
bullish sign, but in the after-market session Microsoft (MSFT) is selling
off because of less- than-satisfactory earnings reports. It is indeed tough to
carry overnight positions these days.
Let’s look at some stocks for tomorrow:
Apache Corp (APA): The issue is bouncing nicely off its 20-day EMA and
looks ready to move out of a pullback from the recent high.
Walgreen Co: (WAG): The stock is trading inside of an ascending channel
and appears to be heading to the upper channel boundary.
InterActiveCorp (IACI): Although the issue closed strongly, it failed to
penetrate into yesterday’s bar. Also notice a head and shoulders pattern is
forming on the 5-minute chart.
Good night and see you tomorrow.