Trade Ideas for next week - Arch Coal, American International Group and Yahoo
Chart courtesy of www.stockcharts.com ( click to enlarge )ACI made a strong upside reversal this week. The near-term trend does not appear bullish, therefore there is no reason to invest in this stock now. Fresh exposures may be considered once the stock stabilises and gets into an upward trending mode. The technical chart above suggests that stock might find now resistance at $14.50. Only a close above this level would suggest further upside. Remain invested with a stop loss at $13.85.
Chart courtesy of www.stockcharts.com ( click to enlarge ) AIG was the strongest stock on Friday. The stock reversed strongly to move to my short-term resistance at $12. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above $12.71 on heavy volume.
Chart courtesy of www.stockcharts.com ( click to enlarge )YHOO - Despite weak signal from MACD in the chart as MACD and signal line are below 0, the technical daily chart shows this might be an interesting time to buy the stock as K line has just crossed on top over D line showing buy signal. However, the stock is still facing resistance around its 13-day moving average. Fresh long should be made only when the stock moves above this resistance level. The stock is currently in a downtrend.
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 Monday !!! Have a great and enjoyable weekend !!!
AC
