Thursday’s Top Stocks
An announcement from Sierra Wireless
(SWIR) hit sellers hard this afternoon. The company will be
cooperating with Intel (INTC) to deliver integrated wireless connectivity
products to mobile professionals worldwide. As you can see below, SWIR formed a
bullish wide range bar and closed near the day’s high. Now, let’s wait and see
if the stock can take out a declining trendline.
Diamonds Trust (DIA) shaped an inside bar, and Nasdaq-100 Index
Tracking Stock (QQQ) made a doji bar below the 50-day SMA again.
Let’s look at three stocks for Thursday:
Forest Labs (FRX): The stock closed just below the bottom of a gap zone
after pulling back from the September 2 low. Look for a resumption of the
downtrend.
Gilead Sciences (GILD): The issue closed right at the confluence of a
rising trendline and a horizontal support line. It is possible for the stock to
test the bottom of a gap zone, but look for a resumption of the uptrend.
Ask Jeeves (ASKJ): The stock appears to be forming a double bottom. We
are looking for ASKJ to challenge the August 23 high. Watch for the 20-day SMA.
It can be a strong resistance.
Good night and see you tomorrow.
If you have questions, feel free to mail them to me.
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