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Tuesday, August 23, 2011 

3 stocks to watch on Tuesday, August 23

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AutoZone, Inc. (NYSE:AZO) is strong and getting stronger every day it seems. If it can close above $298,34, then expect more upside. If this happens, AZO is a good play. The daily chart shows the stock is on a strong bull market as the stock is trading above 50-day and 200-day moving with both moving average pointing upwards. I think the stock should continue to go up. 

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Pan American Silver Corp. (NASDAQ:PAAS) had a good move Monday. The stock broke out the falling wedge pattern to the upside by surging more than eight per cent. This is a trend reversal pattern suggesting a halt in the bearish trend . The stock could touch an upside target of 34.35 in the short term. The technical daily chart shows the stock is now back to uptrend and with %K line above %D line we may see more upside. There is an increase in volumes over the past two trading sessions.  In addition, the daily relative strength index has entered in to the bullish zone and weekly RSI is heading towards this zone in the neutral region. Existing holders could remain invested. PAAS will move quickly, so watch the stock closely on Tuesday. 

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CACI International Inc (NYSE:CACI) - Watching over 51.09 area. The stock formed a Bullish Macd Crossover signal.

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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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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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