Monday’s Top Stocks From TradingMarkets
I thought Amazon.com (AMZN) would go
down, but it held up well and closed near the day’s high in spite of Thursday’s
bearish tail. If you take a look at the weekly chart, it gives you a
totally different picture. Actually, Amazon took out a resistance line.
No wonder the stock refused to go down.
Diamonds Trust (DIA) failed to move above the 200-day MA again, and
Nasdaq-100 Index Tracking Stock (QQQ) bounced off the support line, but
could not take out yesterday’s high.
Let’s see three stocks for Monday:
Progressive Corp (PGR): The stock took out the September 14 high and
closed strongly on heavy volume. Look for a continuation of the upward move.
United Rentals (URI): The issue failed to take out 16 and closed near the
day’s low. Look for a resumption of the downtrend.
LIZ Claiborne (LIZ): The stock formed a bullish tail at the rising 20-day
MA. Look for a resumption of the uptrend.
Good night and have a nice weekend.