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Sunday, May 06, 2007 

Sell in May and go away ? I don't know !!!!

It's that time of year again, and this year I'll probably follow the history due to the nice run that markets have done since August, however looking at markets the same pattern persists and I'm still Bullish.

Chart courtesy of stockchart

Shares of YHOO rose 10% on Friday after published reports that Microsoft may try to buy the Internet search firm. The New York Post, and the Wall Street Journal, reported that Microsoft may want to buy the firm in what could be a $50 billion deal. A spokesman for Yahoo said the company wouldn't comment on market speculation. After this news it's difficult to predict the next movement of the stock, however looking at the chart, yesterday volume was huge and MACD back again above 0, a good signal for Bulls.

Chart courtesy of stockchart

ALEX stock has been doing well this year, making new highs, next week keep an eye on ALEX for a possible breakout over 55.25$. I will be watching it closely.

Chart courtesy of stockchart

The technical chart indicates that stock still trading in a Bull Market with share price above 20,50,200 daily moving average, all Indicators are also in Bullish Territory with MACD above 0 and RSI. Chart show now a support for stock at 30$ and the major resistance is at 31.37$. Keep an eye on MSFT for next week.

Chart courtesy of stockchart

This stock is in a Breakout mode after be broken the resistance at 66.25$ . This will be now the major support for a possible pull back.

Chart courtesy of stockcharts

Keep an eye on CENT next week for a possible breakout over 15.50$. Looks like an ascending triangle formation.

Chart courtesy of stockcharts

AET shares breakout this week an important resistance at 47$. The stock chart looks strong, but we could see now some profit taking due the fact that stock reached overbought conditions as chart shows, however stock is in a Breakout mode. Support 47$ , no resistances above.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice 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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