Monday’s Top Stocks
At least the markets did
not go down. Although it failed to move above the 50% Fib level,
Diamonds Trust (DIA) finished slightly above the 20-day EMA. As you can see
on the chart below, trading volume is steadily decreasing and appears to be
losing the upward momentum.
We can observe the similar situations on the daily chart of Nasdaq-100 Index
Tracking Stock (QQQ). But, one difference here is QQQ’s volume is not
decreasing as rapidly as DIA.
Let’s look at three stocks for Monday:
Autodesk Inc (ADSK): The issue closed just above the 20-period EMA on the
60-minute chart. Notice this level coincides with the 38.2% Fib level. Look for
a resumption of the uptrend.
Centurytel Inc (CTL): The stock is forming a narrow trading range above
the 8-period EMA on the 60-minute chart. Look for a breakout.
Fedex Corp (FDX): The stock is consolidating above the rising 20-period
EMA on the 60-minute chart. Look for a resumption of the upward move.
Good night and see you Monday.
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