Picks
for October 19, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ARNA
|
$ 4.48
|
$ 4.38
|
$ 6.00
|
|
CREE
|
$40.61
|
$40.51
|
$45.00
|
|
SBUX
|
$20.73
|
$20.63
|
$23.00
|
|
YHOO
|
$16.89
|
$16.78
|
$20.00
|
ARNA RESISTANCE LEVEL - $4.48
ARNA consolidated on
Friday, giving the stock time to set up for another breakout move. The stock broke out on Thursday and could
break through the consolidation range on Monday. The high of this range is $4.48, which is
resistance for this upside move. Watch
ARNA closely on Monday, but be prepared for a possible consolidation day. Sometimes it takes a few days of
consolidating before we see the next leg up.
CREE RESISTANCE LEVEL - $40.61
CREE is setting up for a
big breakout move and this could occur on Monday. The stock has been in a consolidation range,
which has been decreasing in its trading range.
This formation tells us the stock is setting up for a pop and it should
happen very soon. The high of this range
is $40.61, which is resistance for our buy point. You want to watch CREE very closely because
the stock will move quickly as it nears and breaks through resistance.
SBUX RESISTANCE LEVEL - $20.73
SBUX has traded in a tight
range the past three days, but could make a move soon. The three-day high is $20.73, which is
resistance for Monday’s upside move. We
are buyers of SBUX once it breaks this high and expect to see good upside
potential. Keep a close eye on SBUX for
Monday.
YHOO RESISTANCE LEVEL - $16.89
YHOO bounced on Friday, one
day after breaking down below support.
The stock rallied off Google’s good earnings and could continue on
Monday. We are watching YHOO and are
buyers once it breaks through Thursday’s high of $16.89. If YHOO can break through this level, we will
have a two-bar reversal on the daily chart, which is a bullish short-term
indicator. Keep YHOO on your radar for
Monday’s trading day.
STOCKS FROM OCTOBER 16, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
HBAN
|
NT
|
|
|
|
|
JNPR
|
NT
|
|
|
|
|
MGM
|
NT
|
|
|
|
|
SBUX
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date
P/L October 2009
|
|
|
$40
|
.49%
|
|
|
|
|
|
|
|
Year-to-Date
P/L
|
|
|
$7,570
|
48.22%
|
*Percentages are based on Percent Gained/Lost
per Trade accumulatively
HGAN – No trade. Stock did not break resistance.
JNPR – No trade.
Stock did not break resistance.
MGM
– No trade. Stock did not break
resistance.
SBUX
– No trade. Stock did not break
resistance.
