Watch These Two Stocks — One Long, One Short
Northrup Grumman
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PowerRating) has been strong today,
and is currently pulling back from its highs.The breakout level above the triple
tops earlier could be the support, which is also near the 20-period moving
average.
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Yahoo
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PowerRating) was downgraded by Salomon Smith
Barney and after gapping down, is trading near the low of its intraday range.
Earlier in the day, the stock made a rough double top, and a third attempt at
this level could be met with further selling.Â
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The E-minis need to break above the center line
of this Andrews Pitchfork to get something going. Until broken, it will serve as
angular resistance on the way up.
Have a good afternoon.
Brice Wightman