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Wednesday, March 10, 2010 

Stocks to watch on Wednesday Mar 10

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XNPT appears to have run out of sellers at current levels. A close above $8.56 would confirm the positive outlook and could push the stock to the target zone of $9.15. KD shows possible rally as K line is on top over D line. I'm looking for a good trade if the prices close above $8.56.

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PALM - On ealier posts I warned of the bullish divergence forming on the daily chart that still remains valid. Daily divergence on MACD suggests a bottom is in place unless a break and close below 5.46. In addition, the RSI indicator shows oversold readings on short time frames probably indicating a short term rebound. I’m expecting a test of 6.30 figure for the coming sessions.

( click to enlarge )

The stock is trading in a tight range between 12.03 and 12.60. The daily is still bullish if prices hold above 11.87 zone. Watch out for the break of both levels. Technically, the chart shows weak sign as the stock is below both 50 day and 200 day moving average. However KD shows possible rally as %K line is now on top over %D line.

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 !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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