Thursday’s Top Stocks From TradingMarkets
Alcoa Inc (AA) gained 1.68% following
yesterday’s bullish wide range bar. It took out the 200-day MA and
the 61.8% Fibonacci level (4/6/04 high – 5/10/04 low), but reversed to the
downside in the afternoon session. If the stock trades below a gap zone, it may
attract short sellers.
Both Diamonds Trust (DIA) and Nasdaq-100 Index Tracking Stock (QQQ)
finished strongly. Each issue closed at the day’s high.
Let’s see three stocks for Thursday:
New Century Financial (NCEN): The issue has tested a rising trendline
successfully, and looks ready to resume the uptrend. Although NCEN formed a
mildly bullish bar, the stock was down 0.96% for the day. Wait for NCEN to take
out today’s high before making a buy.
F5 Networks (FFIV): The stock is bouncing off the 20-day MA, and it looks
poised to challenge the September 23 high.
Smithfield Foods (SFD): The issue closed near the
bottom of a bear flag. Look for a breakdown.
Good night and see you tomorrow.
If you have questions, feel free to mail them to me.