Thursday, October 26, 2006

Short-term Thoughts

Amgen (AMGN) is nearing resistances so I would be a seller around 80. If you are long term, keep the stock. I just think it will be bouncing around those levels for enough time that the short-term trader could put their money elsewhere for a bit.

Suntech Power (STP) is showing some positive developments, as it has gotten above its 50DMA and has formed an attractive flag pattern. I illustrated its previous flag also.

Aqua America (WTR) is nearing resistance at its 50WMA, but has good MACD movement about to cross the zero line. Earnings come out on November 1st; the stock could get pushed down, but since most earnings have been good this quarter, I'm sticking with it.

Finally, I'm glad Sirius (SIRI) decided not to break it's only support. It gained over 5 percent today, hopefully not just a knee jerk.
-Chris

No comments: