Thursday’s Top Stocks From TradingMarkets
MGI Pharma (MOGN) exploded.
Before the open company announced it would buy privately held Zycos for
$50 million and make a $40 million equity investment in SuperGen (SUPG).
The stock closed higher more than 19% and finished right at the 50% Fibonacci
level. Let’s see how the stock trades tomorrow.
Nasdaq-100 Index Tracking Stock (QQQ) ended just below the 38.2%
Fibonacci level, and Diamonds Trust (DIA) finished slightly under a
resistance line.
Let’s see three stocks for Thursday:
Electronic Arts (ERTS): The stock staged a strong recovery rally and
formed a bullish doji bar on extremely heavy volume. It appears ERTS is shaping
a double bottom. Â
American Eagle Outfitters: (AEOS): The issue successfully tested a gap
zone and closed near the day’s high. Look for a resumption of the uptrend.
Plug Power (PLUG): The stock formed a bearish tail and closed just above
a short-term rising trendline. PLUG is still trading below its 200-day SMA
(simple moving average). Look for a resumption of the downtrend.
Good night and see you tomorrow.
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