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Wednesday, December 30, 2009 

Stocks to watch on Thursday Dez 31

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RZ has been in a strong downtrend since June. The stock had an interesting day, as it broke out of the range and closed near the highs. Today’s high was $1.46, which is resistance for the continuation move on Thursday. There is a lot of upside in this trade, so keep RZ on your screen tomorrow.

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ETRM had a very strong day on Wednesday, as the stock broke out of its channel on the way to closing up $0.17 on the day. Wednesday’s high was $0.71, which is resistance for Thursday’s follow through move. The move I saw today could be the first leg of a bigger move, but we might see consolidation over the next day or so. You want to keep an eye on ETRM so you do not miss when the stock does break through resistance.

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OSIR had a slight bounce today, as did most of the stocks in its sector. The stock looks like it wants to make a move. I'm buyers of OSIR once it breaks $7.50, which is the top of this range. If the stock can break resistance, we should see a strong upside move. You want to watch OSIR closely on Thursday.

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PLUG pulled back on Wednesday, but the volume was on the light side and could be a one-day event. I like how this stock broke out of a sideways channel on heavy volume in yesterday's session, which is why I will watch it again on Thursday. Resistance stays at $0.78, which was Today’s high of the day. Use your stops if the stock does not hold up.

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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