Monday, February 4, 2013
5 Tech Stocks to Watch
Last time I mentioned SkyWest, Inc. (NASDAQ: SKYW), it broke above an ascending triangle at $11.87 back in November. After 2 months of trading, I believe SKYW is undertaking a trend reversal. The stock closes below lower Bband for the first time since June 2012. I consider a break-below lower Bband with a widening band after consolidation a very bearish sign. Bearish MACD took place yesterday. OBV also fails to make new high. RSI broke below 40 level, which I also consider a trend reversal. I would not be a bad idea to short SKYW given its speed in gaining from $6.5 to almost $14.00 in less than half a year.