Wednesday’s Top Stocks From TradingMarkets
It finally happened.
I was not happy about it, but Crude Oil hit $50. The intraday high
was 50.47, and it closed at 49.90. Notice, the 14-period RSI is showing a
negative divergence. Is it near the top?
Nasdaq-100 Index Tracking Stock (QQQ) formed a bullish tail above the
50-day MA on average volume. Diamonds Trust (DIA) finished strongly just
below the 50-day MA on strong volume.
Let’s look at three stocks for Wednesday:
Golden West Financial (GDW): The stock bounced off the 50 percent
Fibonacci level and re-crossed above the 20-day MA. It appears GDW is trying to
move out of a pullback from the September 17 high.
Charles River Lab (CRL): The issue has formed a bullish hammer just above
the rising 20-day MA, and it looks ready to resume its short-term uptrend.
Cree Inc (CREE): The stock is shaping a bull flag above the ascending
20-day MA.. Look for a breakout.
Good night and see you tomorrow.
p.s. Don’t forget the second quarter GDP will be announced at 8:30 tomorrow
morning.
If you have questions, feel free to mail them to me.
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