Archive for December, 2009
Wynn Resports (WYNN) Getting Heavier By The Day
Wynn Resorts (WYNN) might be setting up an end of year short sale. The stock bounced higher in three waves after bottoming out at 14.50 in March. The 3rd wave topped in September 75 and gave way to a selloff that found support at the 200-day EMA at 51.The subsequent bounce printed a lower high, [...]
Alcoa: Not Ready to Lead the Dow
Alcoa (AA) has been a top Dow performer for the last few weeks. The aluminum giant bottomed out near 5 in March and entered a steady recovery that reached the 200-day EMA in August. Price action has been choppy since that time, with a series of highs above the average, undermined by a steep October [...]
Boeing (BA): Caution Now, Buy Later
Boeing Co (BA) sold off from 108 to 29 and bounced in March. It’s lagged the Dow Industrials since that time but has perked up in recent weeks. Notice how the stock has stalled at resistance in the mid 50s several times and is now trading near that level once again, after a month long [...]
Rackspace (RAX) At New Highs
Rackspace (RAX) came public near 10 in August 2008. The network provider then rallied to 11.95 and sold off with the broad market, bottoming out near 4 in February. It entered a steady uptrend in March, hit 19.20 in October and dropped into a sideways pattern. The stock broke out in Friday’s session, posting heavy [...]