Stock Picks for Wednesday - American International Group and Applied Materials
( click to enlarge )AIG shares spiked today on news that the company had closed a pact with the New York Federal Reserve that slashes its debt under a credit facility by more than half, to $17 billion. The stock closed at 30.84, up 2.44 (+8.59%) on volume of 42.16 Million. From a technical standpoint, KD indicator has generated a buy signal as K line has crossed on top over D line. Although both 50 day and 200 day moving average are showing weakness, KD line is indicating upward swing. For the short term the stock should still continue to go up. A close above 33.50 would have positive implications and could push the stock to the 35-37 range.
( click to enlarge )AMAT - In line with my anticipation, the stock gained on Tuesday accompanied with average volumes. The stock confirmed today the reversal when it broke up above the $12.5 level. According to the technical chart KD and MACD have already generated a buy signal. In addition AMAT is now trading above 50 day and 200 day moving average, also a bullish sign. This momentum could push this stock much higher from here, so keep it on the radar.
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. See you tomorrow !!!
AC
That's All. See you tomorrow !!!
AC
