Picks
for January 21, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
EBAY
|
$24.24
|
$24.13
|
$27.00
|
|
ERTS
|
$17.34
|
$17.24
|
$19.00
|
|
INTC
|
$21.17
|
$21.07
|
$23.00
|
|
RNWK
|
$ 4.68
|
$ 4.58
|
$ 6.00
|
EBAY RESISTANCE LEVEL - $24.24
EBAY is trading higher after hours due to their
earnings report. The stock will probably
gap higher on Thursday and should be one of the strong stocks on the day. We
are watching EBAY on Thursday and are buyers once it breaks through the range high
of $24.24, set on December 23rd.
There is a chance EBAY will gap above or trade through this price within
the first 20 minutes of the morning. If this does occur, use our trading rules
to enter this trade.
ERTS RESISTANCE LEVEL - $17.34
Since gapping down last week,
ERTS has traded in a channel. The stock
looks like it wants to move higher and this could occur soon. Resistance for this move is $17.34, which is
the high of this gap range. If ERTS can
break through this high, we should see a fast upside move as traders push the
stock higher. Keep ERTS on your radar
for Thursday’s trading day.
INTC RESISTANCE LEVEL - $21.17
INTC was one of the
few stocks showing any strength on Wednesday, as the stock was able to close
slightly higher on the day. INTC is
sitting on support and looks like it wants to make a reversal move. Resistance for this move is $21.17, which is
a 2-day high for the stock. If INTC can
break through this high we should see a strong reversal move. Keep a close eye on INTC for Thursday.
RNWK RESISTANCE LEVEL - $4.68
RNWK pulled back on
Wednesday, but continues to hold up very well. The stock hit a high of $4.67,
one penny below resistance. The breakout high from last Thursday is $4.68,
which is resistance for this next upside move.
We are buyers of RNWK once it breaks through this high and expect to see
a quick upside move. Keep watching RNWK
for this upcoming move.
STOCKS
FROM JANUARY 20, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CMCSA
|
NT
|
|
|
|
|
NVDA
|
NT
|
|
|
|
|
ORCL
|
NT
|
|
|
|
|
RNWK
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date P/L January 2010
|
|
|
$100
|
(.03)%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$100
|
(.03)%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
CMCSA – No trade. Stock did not
hit resistance.
NVDA
– No trade. Stock did not hit resistance.
ORCL
– No trade. Stock did not hit
resistance.
RNWK
–No trade. Stock did not hit resistance.
