Picks
for January 28, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
CSCO
|
$23.26
|
$23.26
|
$25.00
|
|
NVLS
|
$22.58
|
$22.58
|
$25.00
|
|
PALM
|
$11.98
|
$11.88
|
$14.00
|
|
SNDK
|
$30.16
|
$30.06
|
$32.00
|
CSCO RESISTANCE LEVEL - $23.26
CSCO looks to be setting up for an upside move
and this could occur on Thursday. The stock
has traded in a tight consolidation range near support over the past three
trading days. The high of this range is
$23.26, which is where we are looking to enter this trade. If CSCO can break through this high, we should
see strong volume push it higher. Keep
CSCO on your radar for Thursday’s move.
NVLS RESISTANCE LEVEL - $22.58
We are watching NVLS on
Thursday and expect to see an upside move soon.
The stock traded in a range on Wednesday, one day after gapping
higher. Resistance for this move is
$22.58, which was the gap high from Wednesday.
We are buyers of NVLS once it breaks through this level and expect to
see a fast upside move. NVLS can be
volatile, so be careful and keep a close eye on the stock for Thursday.
PALM RESISTANCE LEVEL - $11.98
PALM took off the
last 2 hours of the day on Wednesday, ending the day up $.53 on strong
volume. Most of the volume came at the
end of the day, when the stock shot up to highs. We are watching PALM on Thursday and are
buyers once the stock breaks through Wednesday’s high of $11.98. We expect to see volatility in this move and
we would recommend that most traders cut their share size when they trade a
stock that moves as quickly as PALM. Keep
a close eye on PALM for Thursday’s trading day.
SNDK RESISTANCE LEVEL - $30.16
SNDK is sitting
near the top of its range and wants to make an upside move soon. The high of this multi-day range is $30.16,
which is resistance for this upside move.
If SNDK can break through this high, we should see strong volume push
the stock higher. SNDK will move quickly
so watch it closely throughout the day on Thursday.
NO PICKS ON WEDNESDAY, JANUARY 27, DUE TO FOMC MEETING
