Picks
for November 5, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
AMAT
|
$12.15
|
$12.04
|
$14.00
|
|
BRCD
|
$ 9.07
|
$ 8.97
|
$10.00
|
|
NVDA
|
$12.33
|
$12.23
|
$14.00
|
|
SYMC
|
$17.52
|
$17.42
|
$20.00
|
AMAT RESISTANCE LEVEL - $12.15
AMAT traded
slightly higher on Wednesday and could move higher on Thursday. We are watching the stock closely on Thursday
and are buyers once it breaks through Wednesday’s high of $12.15. If AMAT can break through this high, we
should see an increase in volume because this is a popular stock for traders.
AMAT can be a good trading stock, but does move in quick spurts. Watch it
closely on Thursday.
BRCD RESISTANCE LEVEL - $9.07
BRCD formed a “Doji
Star” on its daily chart, which means the stock closed higher, but in the
middle of its daily range. The stock
looks to be setting up for an upside move, which could happen on Thursday. We are buyers of BRCD once it breaks through
Wednesday’s high of $9.07. Keep BRCD on
your radar for Thursday’s trading day.
NVDA RESISTANCE LEVEL - $12.33
NVDA is trying to bounce and
could give us a trading opportunity soon.
We are watching NVDA on Thursday and are buyers once the stock breaks
through Monday’s high of $12.33. If the
stock can break through this high, we should see a strong reversal move. Keep an eye on NVDA closely on Thursday.
SYMC RESISTANCE LEVEL - $17.52
SYMC is worth
watching on Thursday as the stock is setting up for a bounce. The stock pulled back after gapping higher
last week. SYMC seems to have found support
and could make its move soon. We are
buying SYMC once it breaks through the consolidation range high of $17.52. Watch SYMC closely on Thursday for this
upside move.
NO PICKS ON
WEDNESDAY, NOVEMBER 4, DUE TO FOMC MEETING.
