Picks
for November 30, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
NTAP
|
$31.05
|
$30.96
|
$33.00
|
|
ORCL
|
$22.30
|
$22.21
|
$24.00
|
|
PALM
|
$11.05
|
$10.97
|
$13.00
|
|
SQNM
|
$ 4.48
|
$ 4.38
|
$ 6.00
|
NTAP RESISTANCE LEVEL - $31.05
NTAP sold off on Friday, but held up well overall. The stock hit its 10 day moving average,
where it found support on the day.
We are watching
NTAP on Monday and are buyers once the stock breaks through Friday’s high of
$31.05. If NTAP can break through this
high, we should see an increase in volume push the stock higher. Keep NTAP on your radar for Monday’s trading
day.
ORCL RESISTANCE LEVEL - $22.30
ORCL found support at the
$22.00 price level on Friday and could make a reversal on Monday. Friday’s high of $22.30 is resistance for
this reversal move. We are buyers of ORCL
once it breaks through this high and expect to see momentum push it
higher. ORCL can be a good trading
stock, so watch it closely on Monday.
PALM RESISTANCE LEVEL - $11.05
PALM hit support on
Friday just under the $11.00 price range.
The stock found buyers here, which helped the stock close on the whole
number. We are watching PALM on Monday,
waiting to see if the stock can hold up and possible reverse. Resistance for this move is $11.05, which reflects
Friday’s high. There could be good
upside if the buyers come back on Monday, so keep a close eye on PALM
throughout the trading day.
SQNM RESISTANCE LEVEL - $4.48
SQNM was one of the
few winners on Friday and the stock could make a bigger move soon. SQNM broke out last week, hitting a high of
$4.48. This high is resistance for the
next breakout move, which could occur on Monday. We are buyers of SQNM once it breaks through
this high and we expect to see a fast, high volume upside move. You want to keep SQNM on your radar because
the stock will move quickly once it nears resistance.
no picks from last friday due to thanksgiving
holiday
