Just Go Up… PLEASE
By TheWild1 at 3 March, 2008, 12:04 am, Categories : Stock Recommendations
After the horrible day in the market on Friday, it is unclear what that will happen come Monday morning. My guess is the market will probably plummet even further. By looking at the chart, there is an opportunity for the Dow to bounce off a resistance level at 12200, or it could fall down to 12000. Either way there is pretty much nothing we can do, but just be ready. Here are some of the stocks I will be watching closely this week.
AT&T (T)
I like T at around $36. If is able to break the resistance at $36, then it could rise to my price target of $39. Perhaps even break that resistance and test the current high of $42. About a month time frame. The stock was recently hurt by poor outlook of Sprint (S), but the beating has hit T way below its value. I believe this stock shall rise.
Ryder Systems (R)
Currently sitting at support level of $57, R has the ability to bounce up for a quick profit strike. To make matters even better, the company is starting to try and become more environmentally friendly, which seems to be a plus for anything. Beware though, any fall under the support and the stock could fall below $50.
Brookdale Senior Living (BKD)
BKD just broke out of a textbook pattern, and, with the strong volume, things look bullish for BKD. I see a potential for the stock to hit $30 pretty quickly. Professional analysts have a target at $35. You make the call. Lets face it. More people are getting older… now… now… and now.
Gilead Sciences (GILD)
Just announcing a buyback plan, GILD is also partnered with a pretty volatile/active chart. The stock broke out on strong volume and basically passed right though one resistance. I like this stock over $47.50. Price target could test new 52 week highs ($49); otherwise, I like this stock on any weakness back down to $45.
Chesapeake Energy (CHK)
Another stock just off its 52 week high, I like for this stock to bounce off the current support. If not, then I like it if the stock comes back down to $40. If you choose to buy it now, then don’t be too greedy on the profits.
Other Picks
I really like CAT off the recent drop, and still watching CSCO and HAL. I’ll probably have some more stocks or revisions throughout the week.
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You could make some money and also hedge your porfolio by shorting the market. Obviously contingent on your risk appetite and market outlook.
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yea, I have always thought about doing, but just never got around to it.
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