|
Home
Up
Co-brand
Partnerships
| |
BREAKOUT
WATCH
|
| Short
Term Trading Ideas: Stocks to Watch During the Day for Potential
Breakouts.
|
| DATE |
COMPANY |
SYMBOL |
CLICK
FOR CHART |
| 5/15/00 |
CMGI Inc |
CMGI |
CHART |
| COMMENTS:
CMGI's late April rally attempt retraced just over 50% of the stock's
4/10-4/17 plunge. The stock has been in a steady decline since the
rally attempt ended on May 1st, and now looks likely to retest its 4/17
low. CMGI fell 0.44 on Friday to close at 55.19 after trading as low
as 53.50 intraday. Support is at 49.38. Short term technicals
continue to weaken: daily OBV and stochastics are at new lows. Long
term indicators remain decidedly negative: weekly OBV has been declining
since March, weekly RSI and stochastics are at new lows. A sell
short signal would be given on a break below 49.38, with the next support
then at 45, 42.6, 38, and 33.1. Resistance is at 59.8 and 65.9.
Day
1 on breakout watch |
|
5/15/00
|
Philip Morris
Companies |
MO |
CHART |
| COMMENTS:
MO has formed a solid bottom
during the first 5 months of this year and is once again retesting its
2000 high of 24.63 set on January 11th. The stock gained 0.81 on
Friday to close at 24.31, just below its intraday high of 24.50. Short and
long term technicals are positive: daily OBV, RSI, MACD, and stochastics
are rising; weekly OBV has turned up, and both weekly RSI and stochastics
have risen above 40 from oversold territory. A buy signal would be
given on a break above resistance at 24.63, with the next upside
resistance at 27.94 (the November 22nd intraday high), 31.4 (the 62%
retracement of the stock's 8/99-3/00 decline), and 33.7. Support is
at 23.75, 22.2, and 20.1. Day 1 on breakout watch |
| 5/15/00 |
Standex
International |
SXI |
CHART |
| COMMENTS:
Standex has been in a steady
decline since it peaked at 37 on 11/7/97. The stock failed to hold
minor support at 16.2 on Friday, ending the day down 0.69 at 15.56 after
hitting an intraday low of 15.50. A retest of the stock's 8-year low
of 14.34, set on March 24th of this year, now appears likely. The
stock has additional support at 13.63-13.81, a level that marked the highs
in 1990 and 1991. Short term indicators are negative: stochastics
has dropped below 70 from overbought territory, and OBV, MACD, and RSI
have turned down. A sell short signal would be given on a break
below 13.63, with the next support then at 11.5, 10.4, 9.7, and 8.5.
Resistance is at 16.8, and 17.6-17.9. Day
1 on breakout watch |
| 5/15/00 |
Swift
Energy Co |
SFY |
CHART |
| COMMENTS:
Swift Energy is making another run at the 2 1/2 year high if 23.50 that it
set on May 5th. The stock gained 1 on Friday to close at 22.88 after
hitting an intraday high of 23.13. Short term indicators are
positive, but overbought. Long term indicators continue to improve,
with weekly OBV, RSI, and stochastics all at new highs. A buy signal
would be given on a break above resistance at 23.50, with the next
resistance then at 26, 28.9, and 31. Support is at 20.9-21.3, and
19. Day 1 on
breakout watch. |
| 5/15/00 |
International
Business Machines |
IBM |
CHART |
| COMMENTS:
IBM's feeble late April
rally attempt was stopped by resistance at 114, the 50% retracement of the
stock's 3/2-3/27 rally. The stock finished Friday unchanged at
104.44 after hitting an intraday low of 103.25. A retest of support
at 99.5-101.25 (the March and April lows, respectively) now appears
likely. Short and long term indicators remain negative. A sell
short signal would be given on a break below 99.50, with a retest of the
October lows at 89.75 then likely. Additional support is at
82. Resistance is at 110 and 114. Day
1 on breakout watch. |
|
CLICK FOR
MONDAY
TUESDAY WEDNESDAY
THURSDAY FRIDAY |
|
|
DISCLAIMER
|
