Friday’s Top Stocks
Shortly after Google (GOOG)
began its first day of trading, some of our
chatroom
participants were already applying Fibonacci retracement levels to the stock.
Take a look at the 1-minute chart of GOOG. It bounced off the 23.6% level
nicely.
Both Nasdaq-100 Index Tracking Stock (QQQ) and Diamonds Trust (DIA)
formed an inside bar. An inside bar can be interpreted as a reversal signal, but
it also appears at the beginning of a trading range.
Now, let’s look at three stock for Friday:
Express Scripts (ESRX): The issue broke down below a bear flag on
increased volume. Look for a test of the August 12 low.
Biomet (BMET): Accompanied by heavy volume, BMET took out its resistance
level and closed at near the day’s high. Look for a continuation of the upward
move.
CheckFree Corp (CKFR): The issue closed at the lower boundary of a bear
flag. Look for a breakdown.
Good night and see you tomorrow.