` Gary Investing Blog: 3 Stocks to Watch This Week + SPY Summary


Follow Us on StockTwits


Sunday, January 20, 2013

3 Stocks to Watch This Week + SPY Summary

3D System Corp (NYSE: DDD) has continuously shown appreciation for weeks already. I still long DDD yet find it hard to believe its crazy bull myself too. I sold half of my shares back when DDD was trading at $60.00. RSI is currently still at overbought level. And DDD jumped 4.24% on Friday with lower-than-average volume. I expect some kind of profit-taking and correction very soon.

 SPY is closing at its highest level since last Sept after better-than-expected numbers. SPY traded with more volume on green than red days. However, RSI is approaching overbought level. I expect SPY trading in a horizontal channel and above $145.00 in the coming month(s).

Tellabs, Inc (NASDAQ: TLAB) once again closes above MA(50). Friday's candlestick was an inverted hammer, a reversal pattern. Volume breaks above its downtrend since early last December. MACD is about to cross above its signal line, which triggered huge appreciation when it crossed last 2 times. I have a target of $2.70 if it closes above $2.30. Due to its small cap, remember to use stop order. I suggest somewhere just below $2.15.

I have mentioned Delta Air Lines Inc. (NYSE: DAL) in early December on its breaking above weekly ascending triangle. Delta has jumped from $10.00 to as high as $14.11 (41.1% gain) in less than 2 months. DAL has closed lower for 2 days already but very little volume. Many has mentioned its possible pullback due to its persisting high reading in RSI on Twitter. But I think even a correction takes place, DAL won't close below $12.71 (MA20) as down volume is MUCH less than up volume. The chart still look pretty good for entry, even at the current level.

Thank you for reading Gary Investing Blog
Please also follow me on Twitter: www.twitter.com/GaryLee_HK for updates during trading hours

No comments:

Post a Comment