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Friday, March 24, 2006 

Crude Oil , HPQ , BRCM

Chart courtesy of stockcharts

U.S. stocks ended higher Friday but with a flat week for the market, investors preferred to tread cautiously ahead of an upcoming Federal Reserve meeting on interest rates next week.

May crude closed at $64.26 a barrel Friday, up 35 cents for the session and finish 2% higher for the week amid concerns about tightening U.S supplies. Crude oil still trading near of highs, so perhaps next week could be a key week for crude if it reach the $65.5o.

Chart courtesy of stockcharts

Indicators: Long term still Bullish - EMA 200 - 28.24
Medium term Bullish - EMA 50 - 32.34
Short term Bearish - EMA 14 - 33.34

Supports : 32.85 & 32.56 / Resistances : 33.41 & 33.64

Chart courtesy of stockcharts

Broadcom still trading in a downside as show the chart above, the indicators still showing Bearish signals, so be careful if we break the 43$ level, because we can go fast until the 40$ to close the GAP.

Macro economic news reported on Friday :

U.S. new home sales slumped 10.5% to 1.08 million in February to to their lowest level since May 2003, the Commerce Department said. Economists had been expecting sales to slip to only 1.21 million. Sales in January were also revised lower.

Big movers in after-hours :

T , LU , Q , GTW , LVLT , BLS , VZ

Hot stocks in after-hours :

SLR , GNBT , LEA

That's All. Have a great weekend !!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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