Picks
for December 23, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ADBE
|
$37.52
|
$37.42
|
$39.00
|
|
EBAY
|
$23.07
|
$22.97
|
$25.00
|
|
ORCL
|
$24.74
|
$24.63
|
$26.00
|
|
SBUX
|
$23.80
|
$23.68
|
$26.00
|
ADBE RESISTANCE LEVEL - $37.52
ADBE has been in a tight
consolidation range the past four trading days, but could make an upside move
soon. We are watching the stock closely
on Wednesday and are using last Thursday’s high of $37.52 for this next upside
move. Normally we would use the high of
this range, which was Monday’s high of $37.68, but the stock closed below old
range highs this day, which is why we will use the old highs. There could be good upside in this trade, so
watch ADBE closely on Wednesday.
EBAY RESISTANCE LEVEL - $23.07
EBAY broke resistance on
Tuesday, but did not give us the move we expected. We still like this trade and expect to see a
bigger upside move soon. Resistance is now $23.07, which reflects Tuesday’s
high of the day. Keep EBAY on your radar
for Wednesday’s trading day.
ORCL RESISTANCE LEVEL - $24.74
After gapping higher last Friday, ORCL has
traded in a consolidation range. The
stock has been trading near the highs of this range and looks ready for a breakout
move soon. Resistance for this move is
$24.74, which was the high from last Friday.
If ORCL can break through this high, we should see increasing volume
push the stock higher. ORCL can be a
good trading stock, so watch it closely on Wednesday.
SBUX RESISTANCE LEVEL - $23.80
SBUX is setting up
for a breakout move, which could occur on Wednesday. The stock traded higher last Friday and has
consolidated in a tight range the past two sessions. The stock made new range highs of $23.80 on
Tuesday, which is resistance for this next upside move. You want to watch SBUX closely on Wednesday
for this breakout move.
STOCKS
FROM DECEMBER 22, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
ADSK
|
NT
|
|
|
|
|
EBAY
|
$23.01
|
$23.05
|
$40
|
.17%
|
|
ISIL
|
NT
|
|
|
|
|
MCHP
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$40
|
.17%
|
|
Month-to-Date P/L December 2009
|
|
|
$470
|
2.24%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$8,820
|
58.88%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
ADSK – No trade. Stock opened above resistance, pulled back,
made new high all within the first 20 minutes of the morning.
EBAY
– We bought EBAY when it broke
resistance after the lunch hour. The
stock ran up to $23.07, where it stalled between $23.06-.07. We sold for a small profit once it broke
below $23.06
ISIL
– No trade. Stock opened above
resistance, running to highs of the day within the first minutes of the
morning.
MCHP
– No trade. Stock opened above
resistance, running to highs of the day within the first minutes of the
morning.
