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Monday, August 10, 2009 

US Hot stocks for Tuesday - Cree and Applied Materials

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

CREE is sitting under resistance at $31.94 ( 13 dma ). The stock needs to break this resistance or will revisit the $30 area soon. Watch for high volume and relative strength/weakness before you jump on board. The buy point is when price clears the resistance line and volume expands to take the stock higher. The technical daily chart shows that MACD fast line has fallen below slow line which could mean that this stock is losing momentum. Overall still bullish, but negative momentum is on the rise. Stay tuned on CREE.

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

AMAT is still holding support at $13.25 but at the same time has not bounce very strongly here. A break below this area will likely be bearish for stock, on the other hand a close above $13.66 on heavy volume will launch a rally. Therefore a better time to buy would be to wait for K line to rise back up again above D line or buy stock only if the stock moves above $13.66 with tight stop loss.

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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