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Monday, March 02, 2009 

Stock Picks and Trade Ideas for Tuesday - BDX, HOLX, BCR

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

BCR shares took a hit in February and managed to find support around 75-79 with upside volume starting to pick up. The technical indicators of the daily chart are still negative suggesting further possible pressure but a strong closing again above the 79 could change this scenery. Short term traders can go long if stock breaks this level and thereafter stock can target the level of $81.26. The bias remains bearish in nearest term.

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

HOLX - The stock bottomed at 9.92 and closed at 10.09. The support on the daily technical chart has been breakdown to the downside suggesting a potential bearish scenario for stock. All indicators still point to a bear market. The trend is currently down.

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

BDX - Despite the weak signal from MACD in the technical chart as MACD and signal line are below 0, the technical chart shows this might be a great time to buy the stock as K line has just crossed on top over D line showing buy signal while ROC is still at oversold level. Nevertheless the stock is currently in a downtrend. Immediate resistance is seen at 64.70 ( today’s high ). Initial support at 61.82.

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 tomorrow.

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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