13 Potential Trades After Dow Put Impressive Rally
Posted by Stock Online Trader in Stock Picks on 06-25-2009
Tags: Stock Picks
ABCW 1.60$ -> Potential resistance at 1.80$ and 2.10$, up from 0.90$ in last 2 days…
AGM 5.74$ -> Potential resistance at 6.00$ and 7.20$, up from 4.40$ in last 2 days…crazy spiker…last time it gapped up to 8.00$ from 4.20$ before filling the gap…
ALXA 2.70$ -> Gaining momentum, up from 1.60$ support a while back…key resistance at 3.00$ and 3.50$…trade biotech stocks with caution…
AM 10.60$ -> Up huge 2 days in a row on good earnings. Up from 6.50$. Eventually buyers will take profit and start selling. No action till we see a Red day. Keep watching
CAST 6.80$ -> 7.00$ seems to be critical resistance. Failed twice to break it. Potential short entry with stop loss on break of 7.00$
CHLN 4.49$ -> Chinese housing stock putting another spike today after earlier spike last week fizzled. 5.00$ holds key resistance and anything below it is worthy short.
LPSN 3.75$ -> Up 16% today. Making its way towards 4.00$. Failed to break it twice. Key resistance. Impressive volume today. Keep watching for volume fade to short into.
MEA 4.88$ -> 16.75% up today. Amazing turnaround from lows of the day at 4.02$. 4.00$ support held strong and the strong rallied from there on, taking out all key resistance levels. Will be interesting to watch tomorrow for break of 5.00$. RSI and other indicators however point to over bought levels. Will look to short into any weakness.
OREX 5.16$ -> Up 9% today. Broke 5.00$ and then stayed above it all day long. No key resistance till 5.50$. Potential short on break down of 5.00$ support. Biotech stocks to be traded with caution…
SEH 8.86$ -> 9.00$ key resistance. Failed multiple times to break it. Can it break it tomorrow ? Support at 8.00$
SNTS 2.80$ -> Struggling to break 3.00$. Short below 3.00$ resistance, with stop loss on the break of it.
SRI 4.56$ -> Big resistance at 4.80$. Failed bunch of times to break it. Stock up on analyst upgrade. Support at 4.40$. Careful
XRTX 4.65$ -> Huge earnings spike, even though reported poor results. CEO expects market to be stable in future. How can you buy that argument ? Resistance at 5.00$, with support at 4.50$ and key support at 4.00$. Keep watching for short entry.
