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Tuesday, May 12, 2009 

Hot stocks for Wednesday - PetMed Express and Advanced Micro Devices

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

The technical chart of AMD has become increasingly bullish and is currently consolidating in an attractive pattern. Technically this looks like the stock is ready to bust to the upside in a possible very strong move. From the chart above , we can see the stock is in a strong bull market with 13 day moving average on top over 50 day moving average and MACD is above signal line. As K line back above D line we should see the stock keep going higher. A move past 4.50 would be a strong indicator of a further uptrend in the stock.

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

The stock has broken the upper channel line of this short term downtrend line. PETS is very bullish with the breakout having a large spread and volume. Looking at the technical indicators, we have the MACD above Zero Line and RSI Above 50, indicating the stock is in a “bullish” trend. In addition, the chart shows a very bullish sign as 50 day moving average has just crossed on top over 200 day moving average "the Golden Cross". The Golden Cross indicates a bull market and it emerges when the short term moving average breaks upward beyond the curve of the longer term moving average, which indicates the end of the down trend and the start of the new up trend. The short-term outlook for PETS is bullish.

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 !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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