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Tuesday, May 05, 2009 

Hot stocks for tomorrow - Fossil and Yahoo

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

YHOO - The stock broke and closed above its 200-day moving average on Tuesday (14. 44) for the first time since June of last year. The stock has been trading in a range of $8.94-$28.33 in the past 52 weeks. Looking at the technical daily chart above it shows a new rally is about to begin as K line has just crossed on top over D line as the stock is again back above 200 day moving average. During the month of February, a golden-cross occurred with the convergence of the 13 day moving average back above the 50 day moving average. A more significant golden-cross between the 50 day moving average and the 200 day moving average looks likely in the coming days. Finally, the MACD is in a nice uptrend. All other indicators still point to a bull market. P.S. - There are a lot of people buying calls, betting on Microsoft-Yahoo Merger.

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

FOSL - The stock reversed direction at 20.32 on Tuesday for the fourth time this month. This level is proving to be a strong resistance zone. A strong trend would not be in place unless the stock closes above this resistance. Fresh exposures may be considered on price weakness, with a stop-loss at 18.96 ( 200-day moving average ). A close above 20.32 would be an early indication that the stock is on a new upward move. Watch for high volume and relative strength/weakness before you jump on board.

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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