Wednesday’s Top Stocks From TradingMarkets
Buyers flocked to the internet stocks
today. As you can see below, Internet HOLDRs (HHH) took out
the gap zone and closed near the day’s high on heavy volume. Needless to say,
the stock is overbought. It may be wise to wait for a pullback.
On the other hand, both Nasdaq-100 Index Tracking Stock (QQQ) and
Diamonds Trust (DIA) were directionless. Each issue formed an inside bar.
Now, let’s see three stocks for Wednesday:
American International Group (AIG): The issue has tested the rising
20-day SMA successfully. Look for a resumption of the upward move.
Air Products and Chemicals (APD): The stock has formed a bullish tail
slightly above the 50-day SMA, and it appears ready to resume the uptrend.
Maxim Integrated Products (MXIM): Although the stock closed near the
day’s high, it still could not move above the gap zone. We may see a resumption
of the downtrend.
If you don’t mind, let’s see one more.
Tellabs (TLAB): The stock has shaped a bearish tail, and it looks poised
to test a support line.
Good night and see you tomorrow.
If you have questions, feel free to mail them to me.
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