Friday’s Top Stocks From TradingMarkets
Semiconductor HOLDRs (SMH) decisively
took out a horizontal resistance line and closed just below the declining 20-day
SMA (simple moving average) on extremely heavy volume. It is too soon
to declare the ending of the downtrend, but we definitely have to watch the
stock closely.
Although semiconductor stocks were performing well today, Nasdaq-100 Index
Tracking Stock (QQQ) still could not break above the 50-day SMA. Diamonds
Trust (DIA) lost almost 0.5% of its value and finished right at the 200-day
SMA.
Let’s look at three stocks for Friday:
Genzyme Corp (GENZ): The stock formed a doji bar just above the rising
20-day SMA. Look for a resumption of the uptrend.
Quest Diagnostics (DGX): The issue has closed at the
confluence of the lower boundary of a channel and the 20-day SMA, and it looks
poised to resume the uptrend.
Autozone Inc (AZO): The stock has re-crossed below the 20-day SMA, and
appears ready to test a horizontal support line.
Good night and see you tomorrow.
If you have questions, feel free to mail them to me.
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