Wednesday’s Top Stocks
Instead of getting a
sell-the-news reaction after FOMC announcement, the market rallied and closed
near the day’s high. But as you can see below, both Diamonds Trust
(DIA) and Nasdaq-100 Index Tracking Stock (QQQ) could not take out the
gap zone.
Contrary to the general markets, Oil Service HOLDRs (OIH) closed poorly
and formed a bearish tail just below the 50-day EMA. We might see a re-test of
the gap zone.
Let’s look at three stocks for Wednesday:
eBay Inc (EBAY): The issue successfully tested the 200-day EMA and
finished just below a declining trendline. It appears EBAY is forming a double
bottom. Look for a breakout.
Symantec Corp (SYMC): The stock broke out of a bull flag on heavier than
normal volume. Look for a continuation of the upward move.
BB & T Corp (BBT): The issue took out yesterday’s high, and appears to be
attempting to rally out of a pullback from the recent high. Look for a
resumption of the uptrend.
Good night and see you tomorrow.