( click to enlarge )
The Walt Disney Company (NYSE:DIS) had a strong move on Wednesday, as
the stock set new 52-week highs. The stock hit a high of $50.65, which
is resistance for the follow through move. The trend is bullish as the
stock is above 50-day and 200-day moving averages with both moving
averages going up. You should watch this stock closely on Thursday.
( click to enlarge )
I've mentioned Micron Technology, Inc.(NASDAQ:MU) for the bulls out
there. The nearest trend is in favour of Bulls and the stock price has
room to go higher. If the stock can break through $7, we should see
strong volume drive the stock higher. I'm still maintaining the buy
rating on MU as the technical chart still shows very bullish sign. The
MACD is increasing and the stock price has regained its position above
the 200-day MA.
( click to enlarge )
Sirius XM Radio Inc (NASDAQ:SIRI)
broke out to a new all-time high on Wednesday accompained by a strong
volume suggesting higher levels. The technical chart still showing a
bullish bias. Technically, the stock still trading above both 20-day and
50-day moving averages and the MACD is above 0 showing positive
momentum. Other factors that are in favor of a move higher is the
technical indicator OBV and the the Relative Strength Index, both are
still rising which is bullish. Resistance for Thrusday’s move is $2.51,
which reflects Wednesday’s high of the day. I suspect the stock may
continue to appreciate over the coming days.
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Allegheny Technologies Incorporated (NYSE:ATI) Looks about ready to run
here. The stock is displaying upside momentum and is poised to move
higher from these levels. Nearest resistance for the stock is at 32.64.
If this level is crossed and the stock is able to sustain above this
level, then it might go to 35.
The Gap Inc. (NYSE:GPS) broke out to all-time highs again on Wednesday.
The volume on yesterday's break was great however at the present level
the stock is extended. I'm bullish on this stock, but in situations like
this I prefer to wait for a pull back rather than chase the market.
From a technical standpoint, the stock is still in a very strong bull
market with MACD on top of signal line and 50-day moving average on top
of 200-day moving average.
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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: ATI, DIS, GPS, MU, SIRI
