Stocks to watch on Thursday Jan 14

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Wednesday, CTIC broke out of a consolidation range as the stock closed up $.17 on the day. Wednesday’s high was $1.40, which is resistance for Thursday’s continuation move. Further rally could be seen to retest $1.523 medium term resistance. As long as the stock stay above 1.22 area, the bullish scenario is still intact. Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line.

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PKD closed positive on Wednesday as the stock continues to try to make another upside move. I'm buyer of PKD once it breaks Monday’s high of $5.63 for this breakout move.

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Over the past three months, the stock has been trading in a very tight range, forming a symmetrical triangle in the process. Whenever I see this type of technical formation, I know that a breakout is imminent. These triangles are technically a consolidation pattern meaning they could move either way, however there may be a slight tendency to continue bullish. I'm using $6.77 level as resistance for this breakout move. DRYS will move very quickly, so watch the stock closely.

Other Stocks to Watch :

Stocks that have a Bullish Engulfing pattern at the end of their daily chart

WFC - WELLS FARGO & CO
MO - ALTRIA GROUP
DAL - Delta Airlines
CVS - CVS Caremark Corp
MBI - M B I A INC
DDR - Developers Diversif
KIM - KIMCO REALTY CORP MD
MON - Monsanto Co
EP - EL PASO CORP
ALTR - Altera Corporation
LUV - SOUTHWEST AIRLINES CO
PTEN - Patterson-UTI Energ
ABT - ABBOTT LABORATORIES
HK - Petrohawk Energy
TCK - Teck Recs B
NBR - Nabors Industries Inc
WAG - WALGREEN CO
FMBI - First Midwest Banco
MDT - MEDTRONIC INC
BNI - BURLINGTON NORTHERN
ESV - Ensco Intrnl Plc
PDS - Precision Drilling
APA - APACHE CORP
MJN - Mead Johnson Nutrition
APOL - Apollo Group, Inc.
ITT - ITT Corp
CAM - Cameron Intl
ADP - Automatic Data Process
ITB - ISHARES DOW JONES U
EOG - EOG Resourses
HERO - HERCULES OFFSHORE I
BIIB - IDEC Pharmaceutical
AOL - AOL Inc
MYGN - Myriad Genetics, Inc
COV - Covidien Plc
PCL - PLUM CREEK TIMBER CO
UPL - ULTRA PETROLEUM CP
CNQ - Canadian Natural Re
DEI - Douglas Emmett Inc
HAS - HASBRO INC
ETR - ENTERGY CORP HLDG CO
NAV - NAVISTAR INTL CORP
SNPS - Synopsys, Inc.
CRI - CARTERS INC
AON - AON CORP
QSFT - Quest Software, Inc.
HANS - Hansen Natural Corp
RWT - REDWOOD TRUST INC
ARM - ARVINMERITOR INC
XRAY - DENTSPLY International
SHO - SUNSTONE HOTEL INVE
BJ - BJ'S WHOLESALE CLUB
OMN - OMNOVA SOLUTIONS INCQ
HR - HEALTHCARE REALTY T
PCP - PRECISION CASTPARTS
MIC - MACQUARIE LLC
WCC - WESCO INTERNATIONAL
FOE - FERRO CORP
CML - Compellent Technolo
AHL - ASPEN INSURANCE HLD
GXP - Great Plains Energy
XRA - EXETER RESOURCE CORP
ATHN - athenahealth Inc

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. Have a nice trading day !!!

AC

Labels: CTIC, DRYS, PKD