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Friday, July 17, 2009 

Stocks to watch next week - TD Ameritrade Holding , Potash and Tractor Supply

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

POT - The stock is holding above the 13-day moving average at $90.38. Short-term investors can hold the stock as long as it trades above this support. Any close below this level would indicate that the recent rally may be near the end. Technically, the stock could go either way and my bias is to the upside, but I do not have enough conviction yet based on this setup.

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

TSCO - After a long up leg that brought prices from the June low of $36.74 to Friday highs of $47.98, the stock has gained nearly 33 percent. This is generally a hot buy from a technical perspective, however at this point the stock is too extended for additional positions, and is now in the overbought zone. I really like the chart but at this level I would wait for a pull back before putting any cash to work. Near term support is at the rising trend line from 43 to 47.98, only fall below the trend line support will take price back to test 45 level.

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

AMTD - The medium-term trend is up. The immediate target is 19.34, which was achieved on the past month. Despite the recent rally on the markets, the stock just registered an upside of 5 percent from the previous week's close. For people who is out, the buy point will be on the day it blows through $18.03 on heavy volume. The uptrend continuation scenario remains more likely at the moment, however a stop-loss at is necessary at $16.45. The technical indicators show the stock is back to rally again as K line is above D line with MACD also back above signal line.

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. Have a nice and enjoyable 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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