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Saturday, September 20, 2008 

Stocks to watch next week - SPIR, AMZN, BIDU, HPQ

Chart courtesy of stockcharts ( click to enlarge )

HPQ - The technical chart shows very positive sign as the stock has bounce back up after dropping near 50 day moving average. Now that K line is on top of D line again the stock should enjoy a new rally. The overall outlook for the stock appears bullish. Only a close below $46.19 would negate the bullish outlook for the stock.

Chart courtesy of stockcharts ( click to enlarge )

BIDU - MACD has already generated a buy signal. The near-term outlook for the stock does not appear negative. Only a close below $280 would have negative implications. Hold on with a stop loss at $280. Fresh buying may be avoided as long as long as the stock is traded below $312 ( 200 day moving average ). A move past this level may be used to take fresh exposures.

Chart courtesy of stockcharts ( click to enlarge )

AMZN - The technical daily chart shows very positive sign as the stock is now trading above 50 day moving average and formed this week the golden cross pattern. This “Golden Cross” pattern represents a major shift from the bears to the bulls. Golden cross is when the 50-day moving average cross on top over 200-day moving average and is a very bullish buy signal. With K line back above D line and stock back above 50 day MA we may see some rally coming. The stock is now in a Bullish mode.

Chart courtesy of stockcharts ( click to enlarge )

SPIR is a low volume small cap that may be poised to move higher. This stock broke out on Friday from its bearish descending traingle. The technical chart shows very positive sign as the stock is now trading above 50 day and MACD back again above 0. This momentum could push this stock much higher from here, so keep it on the radar next week.

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. See you Monday !!!

AC

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If HPQ can get back above 50, maybe up to 52 or so, I think it would be a good short, especially while the markets are rallying. Look at the daily and weekly stochastics. Both are nearing overbought territory. It's nearing its 52 week high, is far above its 20/30/50/100/200 SMAs. I think you could pick up a 5% gain if you short above 48.5

Love your site. Great ideas and wonderful technical analysis. Good luck with the advertising!

- CP

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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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