Stocks to watch tomorrow - TSRA, GOOG, RIMM
Last week FED gave more indications that something is going wrong within the US economy. It is now a fact, that the State of the US economy is not good and healthy , showing signs of weakness and a pre-disease announced. There are now plenty of problems to take care, with things like inflation, interest, jobs, oil and energy, trade deficit, and the housing market, that should be considered before start building a new sentiment of optimism. I am not arguing that the economy is really bad or in recession, but there are signals that are pushing me to believe in a small possibility to become real. Anyway, US markets can make during the first start of this year a correction as it is happening, but in the second half I'm sure that it will regain the previous momentum and the status of Bull again. As I have focused on my previous posts, for a perspective of long term, I'm still optimistic and bet on a better scenario for the technologies stocks, now that the interest begin to be felt in the income of consumers. So, let's the market do what should be done, after 4 consecutive good years of gains, it's natural appear now a healthy correction. The storm will pass soon and a new run to the end of the decade might be initiated. Play on the defensive side.
Chart courtesy of stockchartsOIL: March NYMEX crude contract hits the $100 mark again, confirming my previous technical analyse. The reaction of the markets was immediate, becoming now the price of oil, a major factor of inflation for the coming months.
Chart courtesy of stockchartsRIMM - The stock failed to pass over the resistance at $98 last week. RIMM is clearly losing momentum in the short term and downside is likely. Another negative indicator is KD where K line seems to be ready to fall below D line, which could mean share prices are heading for a fall.
Chart courtesy of stockchartsGOOG - The stock failed to break its horizontal resistance ( 20-day moving average ) at $533 on a close basis. The momentum shifted and short sellers dominated the action on today session. It looks like GOOG should retest previous lows at $488.52.
Chart courtesy of stockchartsTSRA - Stock closed below its key moving averages support, breaking also the short uptrend line.
Looks like TSRA could easily drop to the $36 area.
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
Labels: Crude Oil, GOOG, RIMM, TSRA
