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Monday, February 16, 2009 

Stocks to watch this week - PEGA, PMCS, MSFT

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

MSFT - The price movement last week was marked by a slightly degree of volatility. The near-term outlook will depend on the price movement in the next few days. A close above 19.50 will impart bullishness and will help the stock move to the 19.93-21 zone. A drop below 18.50 will have negative implications that will push the stock down to the 17-17.50 range. Technically,the ADX chart is looking weak with the +DI being below the -DI. ADX value is now at 16 and is turning down. This shows that the stock is losing momentum. In addition, MACD is printing a negative divergence, I would be quite prudent not opening long positions at resistance levels.

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

PMCS is developing a short sideway move characterized by low volatility. The stock is a candidate to be traded in breakout mode. The technical indicators are looking better for the stock with MACD indicator above its sell signal line, K line on top of D line and RSI indicator moving up from the 50 level. A close above 5.75 will impart bullishness and will help the stock move to the 6-6.47 band. A drop below 5.20 will have negative implications that will push the stock down to the 4.65-5 range.

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

PEGA - The stock has broken out to all time highs on Friday. The technical daily chart show a continuation of the trend with MACD and RSI in the Bullish areas. However, Both Stochastic and RSI indicator is reaching the top end which indicates that the stock may be reaching overbought condition soon. Let's see if next week the stock will confirm the breakout. For the long term the stock should still continue to go up.

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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