Picks
for December 21, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ADSK
|
$24.73
|
$24.63
|
$27.00
|
|
CSCO
|
$23.37
|
$23.28
|
$25.00
|
|
EBAY
|
$23.00
|
$22.88
|
$25.00
|
|
INTU
|
$30.50
|
$30.38
|
$32.00
|
ADSK RESISTANCE LEVEL - $24.73
ADSK is sitting at
the top of a consolidation range and could make a move soon. The high of this range is $24.73, which is
resistance for this breakout move. We
are buyers of ADSK once it breaks through this high and we expect to see an
increase in volume as traders jump on board.
You want to watch ADSK closely on Monday for this breakout move.
CSCO RESISTANCE LEVEL - $23.37
CSCO looks to have found support at the $23.00
level, which is where the stock bounced on Friday. We are watching the stock for a continuation
reversal move once it breaks through Friday’s high of $23.37. If CSCO can break through this high, we
should see a good trading move. CSCO can
be a good trading stock, so keep it on your radar for Monday’s trading session.
EBAY RESISTANCE LEVEL - $23.00
EBAY continues to hold up and
stall out at the $23.00 resistance level.
The stock looks like it wants to move higher and once it breaks through
this whole number; we should see a strong breakout move. We are buyers of EBAY for this move and will
watch the stock closely again on Monday.
Keep EBAY on your radar for Mondays trading day.
INTU RESISTANCE LEVEL - $30.50
INTU has been
trading in a channel the past two months, but looks ready for a breakout
move. The high of this channel is
$30.50, which is resistance for this upside move. We are buyers of INTU once it breaks through this
high. INTU can move very quickly as it
nears resistance. Watch the stock closely
throughout the day on Monday.
NO PICKS FROM FRIDAY DECEMBER 18, DUE TO
OPTIONS EXPIRATION
