Between July 2, 2010 and September 24, 2010 Expedia jumped from $18.30 to $29.85, almost a 30% jump in about three months. Last six months this stock is in downtrend, and dropped almost 25% from its high. It is currently trading at $21.32, just $3 above its 52 week low, and I think it is time to plan our move. On March 2, 2011 it bounced off of support at $19.61 and traded up for few days and then started trading sideways between $20.89 and $22.31. Below is a daily candlestick chart of Expedia, … [Read more...]
My Swing Trading Pick For Next Week: American International Group Inc (AIG)
March 9, 2011 By 2 Comments
AIG reached a new 52 week high of $54.59 on January 7, 2011 and started a downtrend. The company released its quarterly earnings on Thursday February 24, 2011 and posted a profit of $16.60 per share, market was expecting a loss of $16.98. During the same quarter a year ago, the company posted a loss of $53.23 per share. This Stock is going sideways several days now and is currently trading at $37.11. In the daily candlestick chart below, I drew two support lines below and two resistance lines … [Read more...]
Possible Swing Trade Synaptics Incorporated (SYNA)
March 8, 2011 By Leave a Comment
On January 20, 2011 Synaptics Incorporated released its quarterly earnings and the stock took a dive from a high of $32.24 a day before, to a low of 27.85 a day after. Next few days it went up and traded around $31.32 and then took another dive and is currently trading at $28.37. Take a look at the candlestick chart below, where I drew a support line below and three resistance line above its current price level. I also drew a trend line starting from its high to its current price. The plan is … [Read more...]
Abott Laboratories ABT: Moved Sell Stop
March 8, 2011 By Leave a Comment
As I mentioned in my previous post "Abott Laboratories (ABT) could bounce off of next support" I bought 250 shares of ABT at $46.35 after it crossed Resistance on February 15, 2011. Today this stock closed at $48.70, which is above resistance line 3 of $48.62. If you look at its daily candlestick chart you will notice that this stock touched this price level two times before, first on December 20, 2010 and second time on January 5, 2011. On January 25, 2011 it came close to this resistance … [Read more...]
