Top Stocks For Tuesday From TradersWire
Apple Computer (AAPL)
may be acquired by IBM. That’s what TheRegister.com thinks.
Apple re-crossed above its 8-day EMA on strong volume and closed near the
day’s high.
Following last Friday’s weak finish, Diamonds Trust (DIA) ended poorly.
It appears the issue is heading to the bottom of a trading range. On the other
hand, Nasdaq-100 Index managed to add 0.32% on its value. As you can see,
the rising channel is still intact.
Now four stocks for Tuesday:
Apple Computer (AAPL): As I pointed out above, the stock looks ready to
resume its uptrend. Notice, the 14-period RSI is curling up. Long AAPL if it
takes out 66.24. Our target is the November 29 high (69.57). Risk one point.
Lyondell Chem (LYO): The stock tested a rising trendline successfully and
formed an inside bar. Long LYO if it trades above 28.33. The initial target is
the December 1 high (29.35). Risk 0.5 or place a stop just below the trendline.
Network Appliance (NTAP): The issue is attempting to break out of a
range. Long NTAP if it moves above 34.16. We are looking for 35.60-36.00. Risk
0.75.
Diamonds Trust: (DIA): As I briefly
described above, the issue looks ready to test the lower boundary of the range.
Short DIA if it slips below 105.24. Target is near 104. Watch out the 20-day EMA.
It may become a support level. Risk 0.5-0.75. Notice, the RSI is negatively
diverging.
Good night!
If you have questions, feel free to mail them to me.
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