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Sunday, September 16, 2007 

Stocks in a strong Bullish movement - Yahoo, MCD,SIRI, XMSR, RIMM

Chart courtesy of stockcharts

RUMOURS on the street again !!!
Ebay or Microsoft, I’d like to know which you prefer and why ? Well, forget this question, but it's the commentaries on the floor and in overall forums, everybody talks for a possible takeover. Let's talk now about the daily chart above. Technically speaking after yesterday movement done with an unusual trading for the daily average of the week, stock closed the regular session for the first time since May above its 50 dma, giving us the first confirmed Bullish sign. However if you look closely at the chart, you'll see that the downtrend line has been broken, so guys I have to say "this baby will fly again", it's my opinion based in the chart.

Chart courtesy of stockcharts

RIMM has broken out to all time highs over this week. The chart looks really bullish.

Chart courtesy of stockcharts

This stock has been is on a remarkable run since April and it doesn’t look like the trend will change soon. Over this week broke out again the major resistance of $52.88. MCD looks to go higher here.

Chart courtesy of stockcharts

XMSR - Chart is printing a strong Bullish movement after broken the key area of $13.31. MACD back again above 0 which is a good signal for a long term, however in short term we may see a small pull back, due to the fact that RSI is trading in Overbought conditions.

Chart courtesy of stockcharts

SIRI - On the other hand Sirius is also living a strong momentum but now may find here some resistances to break level. $3.56 is a key resistance for stock however there is other important indicator that is weighting in stock - RSI is too high. Overall I'm Bullish, however more cautions. At these levels I prefer wait to see if this movement will continue.

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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Congrats AC for your great work.

It seems to me that a takeover in YHOO is very likely, so I bought shares on Friday. Enjoy your weekend !!!!

Luis

If markets help, I'm sure that a open above $25 is very likely.

Regards,

Peter

Hello Friends, tks for your comments.

Well, I have to admit that Yahoo is also one of my Top Picks for the second half of the year, and I think that it have found a bottom here and a new trend was now initiated.

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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