Friday’s Top Stocks
The market sold off
hard. Indeed it was a gloomy day. Diamonds Trust (DIA)
finished just above its support level, but Nasdaq-100 Index Tracking Stock
(QQQ) closed at the year’s lowest level. Both stocks formed a bearish wide range
bar accompanied by heavier than normal volume.
As you know, job numbers will be announced tomorrow morning. It could be another
interesting day. Now, let’s look at three stocks for Friday:
Research in Motion (RIMM): The issue is testing a rising trendline on its
weekly chart. Observe RSI and MACD histogram. They are diverging from the price
movement. Look for a breakdown.
Par Pharmaceutical (PRX): In spite of the weak market, PRX managed to
close near the day’s high. Look for a breakout.
AnnTaylor Stores (ANN): Accompanied by extremely heavy volume, the stock
formed a bearish wide range bar and finished at the year’s worst level. Look for
a continuation of the downward move. Of course, you can wait for a pullback to
catch a better selling price.
Good night and see you tomorrow.