Monday’s Top Stocks From TradingMarkets

  • August 27, 2004
  • Tsutae Kamada

It was another
directionless narrow range day. As you can see below, both
Diamonds Trust (DIA) and Nasdaq-100 Index Tracking Stock (QQQ) did
not give us any trading opportunities.

Amazon.com (AMZN) attracted some short sellers in the morning. Although
the stock gapped up at the open, it quickly sold off and formed bear flags under
the declining 20-period moving average.

Now, let’s look at three stocks for tomorrow:

Apple Computer (AAPL): The stock successfully tested its previous
resistance level, now a new support, formed an inside bar. Look for a new high.

D.R. Horton (DHI): The issue is trading in a channel and appears to be
heading to the upper boundary.

Southwest Airlines (LUV): The stock shaped a bearish wide range bar and
closed near the day’s low. Look for a resumption of the downtrend. 

Good night and see you Monday.

T.Kamada