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Wednesday, December 31, 2008 

Stock Picks and Trade Ideas for Wednesday - POT , SJI, VLO, CLF

Chart courtesy of www.stockcharts.com ( click to enlarge )

CLF - The stock is facing a period of sideways action while it consolidates the gains booked in the past weeks. The stock will face short to medium term resistance at 30. Once this level is crossed with good volumes, the stock can go to 37.55.

Chart courtesy of www.stockcharts.com ( click to enlarge )

VLO - The stock closed again above the moving averages and is registering a Bullish signal. Let’s see whether the stock can gather enough momentum to break through 21.92. If the Bulls are able to push through this level, there will be another rally towards 23.61.

Chart courtesy of www.stockcharts.com ( click to enlarge )

SJI has a Bullish looking stock chart, price broke out from the horizontal resistance mark around 38.68 share Tuesday on a respectable volume. The stock is displaying upside momentum and is poised to move higher from these levels.

Chart courtesy of www.stockcharts.com ( click to enlarge )

POT - The latest chart and sentiment surrounding Potash Corp. shares appear to be hesitant due to the incredible performance of the stock recently. Investors should look for flat trading in the near-term with a possibility of testing lower prices before moving higher. A close below 69.73 ( 50 dma ) could be a bad sign for stock.

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 Folks.

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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