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BREAKOUT
WATCH-5/9/00
|
| Short
Term Trading Ideas: Stocks to Watch During the Day for Potential
Breakouts.
|
| DATE |
COMPANY |
SYMBOL |
CLICK
FOR CHART |
| 5/09/00 |
Healthsouth Corp |
HRC |
CHART |
| COMMENTS:
HRC rallied 82% from March 14th to April 25th. The stock has spent
the past two weeks consolidating its gains and now looks ready to retest
resistance at the 4/25 intraday high of 8.75. The stock gained 0.25
yesterday to close at 8.25 after hitting an intraday high of 8.56.
Additional resistance exists at 8.96, the 38% retracement of the stock's
June 1999- September 1999 decline. Short term indicators are
improving: daily OBV, RSI, and stochastics have turned up. Long term
technicals remain strong, with both weekly RSI and stochastics in solid
uptrends. A buy signal would be given on a break above resistance at
8.96, with the next resistance after a break coming at 10.4, 11.3, 12.3,
and 14.8. Support is at 7.5-7.7, and 6.6. Day
1 on breakout watch |
|
5/09/00
|
Dell Computer Corp |
DELL |
CHART |
| COMMENTS:
A retest of the April lows
looks increasingly likely. The stock fell 1.94 yesterday to close at
47.94 after hitting an intraday low of 47.50. Short term technicals
are negative: daily MACD remains on its April 20th sell signal, and
stochastics, RSI, and OBV are in downtrends. A sell short signal
would be given on a break below the 4/17 low of 46.19, with the next
downside support after a break at 43.2, 40.5-40.7, 37.3-37.6, and
35. Resistance is at 50-50.7, 51.8, and 53. Day 1 on breakout watch |
| 5/09/00 |
Eastman
Kodak |
EK |
CHART |
| COMMENTS:
Kodak's mid-April rally
attempt failed near the 62% retracement of the stock's December-March leg
down. The stock has since fallen back to the March 52-week lows and
looks likely to break this support at 53-53.50. The 53 support level also
marked the stock's 1997 lows. The stock lost 1 yesterday to close at 53.56 after
setting a new multi-year low of 53.19 intraday. Daily MACD remains on
its April 28th sell signal, and daily OBV, RSI, and stochastics are all at
new lows. A sell short signal would be given on a break below
yesterday's low of 53.19, with the next downside
support then coming at 47.1-47.8, 44.6-45.2, and 40.4-41.2.
Resistance is at 56 and 61.. Day
3 on breakout watch |
| 5/09/00 |
Excite@Home
Corp |
ATHM |
CHART |
| COMMENTS:
At Home's rally from the April lows has stalled out after running into
resistance at 20, and a retest of the 4/24 intraday low of 15.88 is now in
order. The stock lost 0.44 yesterday to close at 17.50, its low for
the day. Short term technicals continue to deteriorate, but are
oversold. Longer term indicators are also negative, with weekly OBV
and RSI both at new lows. A sell short signal would be given on a
break below support at 15.88, with the next downside support then at 13.7,
11.6, and 9.9. Resistance is at 20. Day
5 on
breakout watch. |
| 5/09/00 |
Applied
Theory Corp |
ATHY |
CHART |
| COMMENTS:
ATHY has rallied back to
within striking range of resistance at 14.81-15, a level that marked the
highs on 4/12 and 4/19. The stock jumped 1.94 yesterday to close at
13.75 (the 62% retracement of its 4/10-4/17 swing down) after trading as
high as 14.50 intraday. Short term indicators are encouraging: both
daily RSI and stochastics have risen above 35 from oversold territory, and
OBV is at a new high. A buy signal would be given on a break above
15, with the next resistance then at 17.7, 19.5, 20.2-20.5, and
23.9. Support is at 12.5-13 and 11.8. Day
1 on breakout watch. |
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