Trade Ideas for Tuesday - Zions Bancorporation, Citigroup and Bank of America

Monday, November 02, 2009

Trade Ideas for Tuesday - Zions Bancorporation, Citigroup and Bank of America

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ZION - There has been a persistent decline in this stock since mid-October tempered with short-lived and unconvincing rallies. Since there are no signals of the stock having reversed yet, I recommend staying away from Zions Bancorporation at current levels. Re-investing in this stock can be considered on a daily close above $14.98.

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BAC - It's hard to believe but the share price is falling nearly 20% since mid-October. The technical chart looks oversold short term. The stock needs to close above $15.33 in order to alleviate the negative near term view.

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C - Looking at the technical indicators, the moving average indicates neutral as the stock is now trading in between 50 day and 200 day moving average. Although MACD shows weakness, KD shows possibility of bounce back rally as K line rose above D line on today's trading session. In addition with ROC indicator now showing the stock is oversold there may be more buyers back.

Other Stocks to Watch - ( Pattern is Bullish Engulfing )

KIM - KIMCO REALTY CORP MD
BBBY - Bed Bath & Beyond Inc.
NTAP - NetApp Inc
ACN - Accenture Plc
GRMN - Garmin Ltd
HAS - HASBRO INC
LO - Lorillard Inc
K - KELLOGG CO
WPI - WATSON PHARMACEUTICALS
VPRT - Vistaprint Nv
TSL - Trina Solar Ltd
MDRX - Allscripts, Inc.
ACGL - Arch Capital Group Ltd
DRWI - Dragonwave Inc
BBBB - BLACKBOARD INC
BAP - CREDICORP LTD
MERX - Merix Corporation
LUNA - Luna Innovations
G - Genpact Ltd

Other Stocks to Watch - ( Pattern is Bearish Engulfing )

KGC - KINROSS GOLD CORP
SWKS - SKYWORKS SOLUTNS
HAR - HARMAN INTL INDS INC
CEPH - Cephalon, Inc.
AAP - ADVANCE AUTO PARTS INC
SLH - Solera Holdings Inc
LNT - Alliant Energy Corp
SVM - Silvercorp Metal
MDC - MDC HOLDINGS INC
VECO - Veeco Instruments Inc.
SJM - Smucker JM Co
CHTL - Mortlock Ventures Inc
ALK - ALASKA AIR GROUP INC
COGT - COGENT INC
ZZ - SEALY 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

Labels: BAC, C, ZION