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Friday, June 19, 2009 

Stocks to watch Friday - Edwards Lifesciences and Capstone Turbine

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

I’m looking at a possible double bottom reversal on CPST stock chart. I know that it is too early to say for certain but looking at the daily chart above is very likely. The stock broke out last week and pulled back to test breakout area. The decline in share price was made with low volume, so does this mean that Bulls are still controlling stock. Capstone Turbine's chart is a bit stronger, with a nice pattern that seems capable of breaking to the upside. Stock may provide a good enter here. Keep an eye for a strong bounce.

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

EW is breaking out. The stock broke through the highs set in July of 2008, and should continue to move. I'm buyer of EW once it breaks through today’s high of $67.44 for the continuation move. Stock is now in a breakout mode and the chart suggests a strong confidence in stock. RSI has space to move up more. The stock will move very quickly, so watch it closely on Friday.

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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