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Wednesday, April 22, 2009 

Hot stocks for Thursday - AGL Resources and Powerwave Technologies

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

PWAV has made an awesome move on Tuesday breaking out of a small ascending triangle patterns with volume backed confirmation. I went long at 0.74 as its quite possible we should see a short term move near $1.12/share. The technical chart shows bullish sign with K line on top of D line and MACD on top of signal line.

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

AGL has been rising in an ascending triangle formation. Look for the break above the 28 level to enter longs. Technically, The stock closed above its 50 day moving average on Tuesday. The MACD indicator is looking to cross above its signal line and Stochastic indicator is moving up, indicating short term strength.

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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