Friday’s Top Stocks From TradingMarkets
Two popular internet related stocks,
Yahoo! (YHOO) and Amazon.com (AMZN) closed poorly near the day’s low.
Notice, each stock formed a bearish tail. I’m sure many traders are expecting
the stocks to test their support levels.
Diamonds Trust (DIA) failed to take out the 200-day MA and a small gap
zone. The stock also shaped an inside bar. Nasdaq-100 Index Tracking Stock
(QQQ) closed just above a support line, but failed to take out the 200-day MA.
Let’s look at three stocks for Friday:
Doral Financial (DRL): The stock formed a doji bar after pulling back
from the September 9 high. Look for a resumption of the uptrend. Normally,
traders place a buy stop just above today’s high to establish a long position.
Adobe Systems (ADBE): The stock was downgraded yesterday, but it managed
to close above the 20-day MA. If ADBE trades above today’s high, it may
challenge the gap zone.
Iron Mountain (IRM): The issue failed to take out 34 and formed a bearish
tail. It may test the 38.2% Fibonacci level.
Good night and see you tomorrow.