Tuesday’s Top Stocks
Despite the gap down opening caused
by the increased terrorism concerns, the markets staged impressive recoveries.
As you can see on the charts below, both Diamonds Trust (DIA)
and Nasdaq-100 Index Tracking stock closed strongly near the day’s high.
Needless to say, the markets still need to overcome more resistance levels.
Let’s look at three stocks for tomorrow:
Freddie Mac (FRE): The stock took out the minor swing high set on July
28, and appears to be resuming the uptrend.
ONYX Pharmaceuticals (ONXX): The issue is forming a bear flag just below
the 200-day EMA, and closed near the lower boundary of the flag. Notice volume
exceeded Friday’s level.
Genentech (DNA): The stock formed a bearish doji bar accompanied by
increased volume. Look for a test of the July 26 low.
Good night and see you tomorrow.