Wednesday’s Top Stocks From TradingMarkets
The Federal Open Market
Committee raised the fed funds rate to 1.75 percent from 1.50 percent as
expected. Diamonds Trust (DIA) failed to move above a gap
zone, and Nasdaq-100 Index Tracking Stock (QQQ) could not take out the
200-day MA. Notice, each stock formed a doji bar. It did not give us a clear
direction.
One notable sector today was gold. $GOX.X (Gold Index) gained 3.62
percent and closed at a 4-month high. Obviously, some investors are worrying
about inflation.
Let’s look at three stocks for Wednesday:
Marshall & Ilsley
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PowerRating): The issue took out the 20-day MA and a gap
zone. Look for a resumption of the uptrend.
Black & Decker (BDK): The stock closed
right at the upper boundary of a trading range. As indicated by the rising
20-day MA, BDK is uptrending. Look for a breakout to a new high.
TASER International (TASR): The stock is forming a bull flag. Look for a
breakout.
Good night and see you tomorrow.