Friday’s Top Stocks From TradingMarkets
It is often the case stocks tend to
take a rest after a wide range bar. Let me give you an example. On
Tuesday, Genzyme Corp (GENZ) broke out of a trading range and closed at a
new high. But, the stock has been moving sideways last two days in spite of this
bullish wide range bar. One encouraging sign is that GENZ is still holding above
the previous trading range.
Again, Diamonds Trust (DIA) closed poorly just above the 61.8 percent
Fibonacci level. Nasdaq-100 Index Tracking Stock (QQQ) formed an inside
bar slightly above the rising 20-day MA.
Let’s look at three stocks for Friday:
XM Satellite Radio (XMSR): The stock has tested its support level
successfully and formed a bullish tail. Look for a resumption of the uptrend.
Copart Inc (CPRT): The issue is forming a bear flag below the 200-day MA.
Look for a breakdown.
KMart (KMRT): The stock looks poised to move out of a pullback from the
September 16 high. KMRT also formed a bullish hammer just above the rising
20-day MA.Â
Good night and see you tomorrow.
If you have questions, feel free to mail them to me.