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Wednesday, August 05, 2009 

Hot stocks for Thursday - Cisco Systems and Yahoo

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

YHOO has been selling off since the announcement of the search deal with Microsoft. At this stage the stock looks like it wants to make a reversal. YHOO has found a bottom around $14.24 and wants to reverse to the upside. There is resistance at $14.89, which is the high from last Friday. If YHOO can break through, we should see a continuation of this reversal. Short term momentum indicators, like MACD, RSI, Stochastics are substantially oversold but have yet to show technical signs of a recovery. Keep a close watch on this stock for Thursday.

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

CSCO released better then expected earnings after Wednesday’s close and the stock is trading higher after hours. We should see a gap to the upside on Thursday in CSCO. The stock has resistance at $22.61 and this is where we will watch for the breakout. If the stock can break through, we could see a test of 52-week highs of $25.25. Technically the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average.

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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