Tuesday’s Top Stocks From TradingMarkets
Intel (INTC) killed the
semiconductor sector. The company’s mid-quarter update was
disappointing, and sellers hit the market at the open. Look at Semiconductor
HOLDRs (SMH). It gapped down on heavy volume, but surprisingly, the issue
managed to close right at the August 13 low. Is this the bottom? Let’s wait and
see how investors evaluate semis over the long weekend.Â
Diamonds Trust (DIA) formed a bearish tail at the 200-day SMA (simple
moving average), and Nasdaq-100 Index Tracking Stock (QQQ) lost nearly 2%
of its value.
Let’s look at three stocks for Tuesday:
Cardinal Health (CAH): The issue formed a narrow range bar and closed
just below the declining 50-day SMA. Look for a resumption of the downtrend.
Electronic Arts (ERTS): The stock has failed to move above the gap zone,
and it looks poised to test the Sep. 1 low.
Bear Stearns (BSC): The issue exhibited relative strength and managed to
finish above the flag. Look for a resumption of the uptrend.
Good night and see you Tuesday.
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