At the beginning of every week I will take a look at the broad market as a whole and discuss what important updates will be happening in the week and if any significant reports/earnings will be coming out.

Then everyday I will try to find a new stock that I feel is poised for a big next couple of days and set price targets, stops, etc.
Showing posts with label INTC. Show all posts
Showing posts with label INTC. Show all posts

Wednesday, April 2, 2008

Thursday Pick:

It looks as if the market will be heading lower on Thursday and with that being said I have a few stocks that I feel will also be heading lower.

Citi (C) closed below the 50 day moving average and is also at the top of the bollinger band. Furthermore it also formed a doji which in this place probably signals a reversal. Also it is near resistance at 25.00.

Short above: 24.0
Cover @ 24.24
Profit take @ 23.52 or end of day
Equitable Group Inc (ETC.TO) if they can cross the resistance

Intel (INTC) also looks like an attractive short as it formed a hanging man formation and closed near previous resistance at 22.00. Also it is near the upper bollinger bands:

Short above: 21.9
Cover @22.12
Profit take @21.46 or end of day