Trade Ideas for Thursday - GLD,GOOG, DRYS, ERTS
Chart courtesy of stockchartsERTS - The 20-day moving average is still acting as the major resistance to a move higher. The stock has been on downtrend since mid December when it hit 52 weeks high of $60.35 per share. With stock trading below its major moving averages, it is still in weak bear market so wait for uptrend coming back before buying the stock.I think ERTS will test February lows before move up again. Let's keep an eye on her.
DRYS - The stock has chance to back to rally after closed above its major moving averages. In addition, K line is now back on top over D line. However with MACD still showing weak signal and stock back to resistence it's better to stay on the sideline now until the buy signal is more clear. A close above $78.40 is a good buy signal.
GOOG - Still in downtrend. Looks like GOOG will begin to accelerate to the downside here. Dead cross pattern activated.
GLD looking good. Stock broke out to all time highs on today session. GLD has been in a nice uptrend for the last six months. The stock broke out in December on huge volume and has not looked back. The stock still looks very strong with both 50 day and 200 day moving average going up while K line is on top of D line. Looks like CMG is a stock to keep an eye on for awhile.
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
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
