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Wednesday, April 01, 2009 

Hot stocks for Wednesday - Watson Pharmaceuticals and Autodesk

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

ADSK has been under a buying pressure in the last few days, and overall the stock still looks healthy. The technicals look good, as seen in the chart above. The stock is now above both 20 and 50 day moving averages with MACD also back above 0 showing positive sign. On a short–term basis, the stock is fighting with the major resistance around $17, I expect a breakout at any moment, hold.

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

WPI - The stock broke out to record highs today on heavy volume confirmation indicating that this breakout is more likely to be real. The technical daily chart shows the stock has been doing well since the beginning of March since the 50 day moving average went on top over 200 day moving average. The stock is in a very strong bullish mode with MACD on top of signal and K line on top of D line, both showing buy signal. In the next sessions, we probably will see more positive action coming from the 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. See you later.

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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