While it has seemed like dreary days in the market over the last couple of weeks, our stock picks have actually been chugging along. That’s what market patience can do.
Its been a while since we looked at a host of stock charts at one time, so lets look at where some of our favorites stand.
Netflix – NFLX
I tweeted this stock earlier and it did exactly what I said. As part of my 4 stocks to buy in 2009, I am obviously rooting for Netflix (NFLX) to finish the year strong. Looking at the charts, the stock is sitting at a point of support and actually closed below the line with MACD pointing down. Look for further confirmation of open and close below support before considering short-term trend change.
JA Solar Holdings – JASO
I’ve been following and holding this stock for a couple months now, and paid off nicely today. JA Solar (JASO) basically smashed through multiple level of resistances with larger than normal volume and managed to close above the line. Both MACD and RSI are pointing up, but nearing oversold levels. Keep support at $4.83.
AK Steel – AKS
It seems like AK Steel (AKS) has resembled that of a broken record over that last couple of months as it keeps going up and down, although it makes it easy to trade. Look for a possible cup and handle formation taking place, which could launch this stock into the mid-20s.
Learn more chart patterns and technical indicators.
China North East Petroleum – NEP
China North East Petroleum (NEP) has been the complete opposite of a fast mover. That being said, it looks like NEP might have finally got its stride going has it basically just zoomed past the $5′s into the $6′s. Look for a support level of $5.80.
Apple – AAPL
The stock recently created a scare by the financial community as it dipped below the 50 SMA, but now we’re facing an even more critical support level at $187.50. Both MACD and RSI are pointing down. I think support will be able to hold and we’ll be confirmed on the current trading zone the stock is in.
Amazon – AMZN
As part of my 7 retail stocks to get a boost this holiday season, Amazon (AMZN) has been on a tear over the last 3 months going from $80 to $145. Whether the current down movement is do to just a mini pullback or end of current trend is yet to be seen, but we should get some idea with the support around $135.
