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Tuesday, November 13, 2007 

The beginning of fourth quarter RALLY !!!!

Chart courtesy of stockcharts

Stock markets are regaining confidence and share prices are moving up, strongly up !!! Cool !!

Chart courtesy of stockcharts

Shares of YHOO were up today more than 5% to $26.10, after analyst Jason S. Helfstein of CIBC World Markets upgrade stock to "Sector Outperform" from "Sector Perform", raising also its price target to $31 from $28. As I have mentioned in the last post, it seemed clear that YHOO had found the bottom yesterday, especially after the selling pressure have decreased dramatically in the last session, so from now on, he have to pay particular attention in this key level $28.00 ( 200 dma ), for a continuation of the rebound. Stay tuned on YHOO.

Chart courtesy of stockcharts

BIDU - This stock has been is on a remarkable run since June and it doesn’t look like the trend will change soon. Looking at the chart, BIDU has found a strong support in its 50 dma. So, after today rally, it looks like BIDU will test tomorrow its 20 dma at $355.

Chart courtesy of stockcharts

Johnson & Johnson "JNJ" shares were up today more than 1% to a new 52 week high at $67.35, breaking out an important resistance at $66.50. Looking at the daily chart, stock is now in a breakout mode confirmed by volume, and the chart suggests a new leg up for JNJ, no resistances above and RSI has more space to move up. Keep an eye on JNJ.

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 evening !!!

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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