Thursday’s Top Stocks
Traders were focused on
oil. Shortly after 1 P.M., the price of crude oil began to fall, and
it triggered a brief market rally. Diamonds Trust (DIA) managed to close
slightly above the 200-day EMA, and Nasdaq-100 Index Tracking Stock (QQQ)
finished flat. As you can see below, the markets are still vulnerable to the
downside.
Let’s look at three stocks for tomorrow:
Yahoo! Inc (YHOO): The issue gapped down and closed just above its
support level. Volume was heavy, almost 50% more than its daily average. Look
for a breakdown. Of course, you can wait for a pullback for a better short sell
entry.
Symantec (SYMC): The stock bounced off the rising 8-day EMA and finished
near the upper boundary of a flag. Look for a breakout.
Wendy’s International (WEN): The issue successfully tested the June 30
low and formed a bullish doji. Look for a recovery rally.
Good night and see you tomorrow.