Monday, May 18, 2009

Update on Sunday's charts

I did several stock charts this weekend for practice and part of practice is following up on my analysis. So here is an update(for visual reference see charts below)--

AAPL bounced off the lower channel trend line today, up just over 4 points. That confirms continued bullishness to the 140 area. So far so good.

C appears to have bounced a bit too, as financials were strong in the U.S. session.

The Dow opened at the bottom of the channel too, and bounced, suggesting continuation of rally to 8800 level. Nikkei is still at lower end of channel, maybe a little bit of a down day in Asia again, but the bounce is possible still. S&P bounced off lower end of bullish channel, suggests continuation to 950 level.

FAF continued higher. I think the opportunity was probably missed last week for a good entry, but should continue to 30ish level.

TEVA is still ranging and I can't recommend anything.

YHOO still bullish for now, closer to 16 sell target than the 13.75 buy target. I would expect it might make it to the lower trend line before making a move back up though.

That's it. If I have time I'll update tomorrow. StockTwits, welcome back!

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