Stock Watch List for Friday May 11, 2012

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Delta Air Lines, Inc. (NYSE:DAL) On watchlist no trigger yet. The stock has consolidated the past two weeks. If DAL can break through $11.34, the stock should make a strong upside move. On the other hand, if the stock does not break resistance, be very careful and use your stops for the downside. Shareholders may remain invested with a stop-loss at $10.14

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News Corp (NASDAQ:NWSA) has a Bullish looking stock chart, the stock price broke out from the horizontal resistance mark around $20.4/share Thursday on heavy volume. The stock made a new 52-week high today, but was not able to close near this high. However, I'm buyer of NWSA once it breaks Thursday’s high for the follow through move. Long-term investors may hold with a stop at 18.65.

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JPMorgan Chase & Co. (NYSE:JPM) - The company is falling in the after-hours session after said its chief investment office had significant mark to market losses and that legal losses of $4.2 billion are reasonably possible. In addition, Standard & Poor's downgraded the banking giant as residential mortgage specialist to "average" from "above average". Short term support for the stock is in the 37 to 38.12 region.

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Career Education Corp. (NASDAQ:CECO) The stock closed slightly up on Thursday and should continue higher on Friday. The company reported earnings after the close and the market loved what they saw. CECO is trading up after hours and I expect it to gap open on Friday. I'm using the 50 dma at 7.62 as next resistance level.

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Shares of Ciena Corporation (NASDAQ:CIEN) are in a bearish trading condition. The fall in the stock has been extended by the violation of the support line at $13.4 and as long as the stock trades below this line stay bearish, this bearish trading condition will prevail. Fresh investments in CIEN are recommended only on a daily close above this level.

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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

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AC

Labels: CECO, CIEN, DAL, JPM, NWSA