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Wednesday, September 23, 2009 

Stock Market Ideas for Thursday - Alcoa and Bank of America

( click to enlarge )

BAC - The technical chart is showing bullish divergences in the MACD. This stock is moving in a band between 16.50 and 18 since August. BAC needs to stay above 16.30 to keep the long-term outlook positive. Hold the stock with a stop at this level. Breakout above 18.24 will take the price to 25.

( click to enlarge )

AA is currently setting up in a very nice uptrend channel since March Lows. Technically the stock looks solid trading above its 20 and 50 day moving averages. My model is long, targeting 15 area. The stock needs to stay above key level 13.79 to keep the bullish scenario intact.
Resistance Levels: $14,62, $14,92 / Support Levels: $14, $13.79

Other Stocks to Watch :

Today's candlestick pattern was a Bullish Engulfing

FIS - CERTEGY INC
NI - NISOURCE INC
ELN - ELAN CORP
MFE - Network Associates
MINI - Mobile Mini, Inc.
EPIC - Epicor Software
PKT - ZOWCOM INC
ENZ - ENZO BIOCHEM
GDI - GARDNER DENVER
AVAV - AeroVironment Inc
CDBT - Max Nutrition Inc
CRYP - Cryptologic Ltd
ASGN - On Assignment, Inc.
MGPI - MGP Ingredients Inc

Today's candlestick pattern was a Bearish Engulfing

C - CITIGROUP INC
LVS - LAS VEGAS SANDS CP
MGM - MGM MIRAGE
STX - Seagate Tech
DTV - Directv
KEY - KEYCORP
CMCSK - Comcast Corporation
EK - EASTMAN KODAK CO
STSI - Star Scientific, Inc.
JNJ - JOHNSON & JOHNSON
CPST - Capstone Turbine
CBS - CBS Cl B
NUAN - Nuance Communications
JOYG - Joy Global Inc
JASO - JA Solar Holdings
POT - POTASH
ADSK - Autodesk
LINTA - LIBERTY MED
VMED - Virgin Media Inc
ADCT - ADC Telecommunications
BA - BOEING CO
JCP - PENNEY J C CO INC
DRE - DUKE-WEEKS REALTY CORP
CIEN - CIENA Corporation
HCP - HCP Inc
DVN - Devon Energy Cp
FDX - FedEx Corporation

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...
Cheers!

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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