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Thursday, August 27, 2009 

Stock Market Ideas for Friday - Citigroup and Aaple

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

AAPL made a small move on Thursday, but still looks like it wants to go. This stock is trading near 52-week highs and this could be the catalyst to break through. I'm setting resistance at $170.94, which was the high of Tuesday. If the stock breaks through, the next resistance is the 52-week high of $176.25. The fact that AAPL is holding up as volume dramatically decreases, is another sign of a future upside move. Keep watching AAPL for the next few trading sessions.

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

Citigroup looks strong enough to move forward. As expected, the stock broke up through the resistance at $5 on huge volume of over 1.202 Million shares. At this stage, further rally is still possible in next several days. The breakout signals a continuation of the prior advance. Even though I find the breakout bullish, I also find Citigroup a bit overextended. As long as $5 holds, this breakout is in great shape. The stock has the potential for a strong follow through, so watch it closely on Friday.

Other Stocks to Watch :

Capstone Turbine Corporation - CPST ( Bearish Two Crows Pattern )
Sirius XM Radio Inc. - SIRI ( White Spinning Top )
Alcatel-Lucent - ALU ( Bullish Hammer Pattern )
DryShips Inc. - DRYS ( Bullish Engulfing )
Microsoft Corporation - MSFT ( Bullish Engulfing )
Pfizer Inc. - PFE ( Bullish Engulfing )
JPMorgan Chase & Co. - JPM ( Bullish Engulfing )
Alcoa Inc. - AA ( Bullish Engulfing )
Verizon Communications Inc. - VZ ( Bearish Engulfing )
Vantage Drilling Company - VTG ( Bearish Engulfing )
CVS Caremark Corporation - CVS ( Bearish Engulfing )
The Southern Company - SO ( Bearish Engulfing )

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...


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About Me

  • I'm a 44 year old Independent Trader using proprietary technical analysis with more than 20 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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