Monday’s Top Stocks
Again, Google (GOOG)
provided great trading opportunities to intraday traders. The stock
hit as high as 109.08, and its day low was 100.50. A nice trading range indeed!
Look at the 5-minute chart of GOOG. It gave us a wonderful double bottom buy
signal.
Both Nasdaq-100 Index Tracking Stock (QQQ) and Diamonds Trust (DIA)
closed near the day’s high, but volume was weak. Anyway, they are still below
the 200-day SMA. That means we are not out of the declining market yet.
Now, let’s see three stocks for Monday:
Marvell Technology Group (MRVL): Accompanied by extremely heavy volume,
the stock took out the 50-day SMA. Notice, a bullish wide range bar. Look for a
continuation of the upward move.
Exelon Corp (EXC): The stock closed at the upper boundary of a short-term
channel. Look for a breakout.
KLA-Tencor (KLAC): The issue is struggling to take out its declining
20-day SMA. Look for a resumption of the downtrend.
Good night and see you Monday.