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Saturday, May 23, 2009 

Stocks to watch next week - Verisign, Helmerich & Payne and Noble Corporation

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

NE remains in a clear uptrend. The outlook is bullish and the stock could move to 33-34 levels in the near term. Fresh exposures may be considered on a close above 31.63. Stop-loss for existing holdings may be placed at 29.23. My model goes long targeting 35.08. CCI heading up towards 100 line on daily chart. As long as NE holds the lower channel trendline, the bulls are in firm control.

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

HP is sitting near its 200 day moving average at $30.70. I consider it to be a good support because it served as an important resistance level twice in the past. However, I note that the daily momentum indicator is displaying bearish divergence, which portends weakening in the bullish momentum. Hold with a stop-loss at $29.64.

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

This is a good looking chart. VRSN has been consolidating for the past two weeks after a nice channel breakout. It has been pulling back on decreasing volume and is starting to turn back up on the 20-day moving average. In addition, the technical daily chart shows this might be a good time to buy as the stock is trading above 50 day and 200 day moving average while MACD is above 0, indicating bull market. VRSN is now sitting near the previous breakout area which could provide a great support.

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 on Tuesday !!! Enjoy your weekend !!!

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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