` Gary Investing Blog: Watchlist for March 22: SPY, ZNGA, DDD, BV

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Friday, March 22, 2013

Watchlist for March 22: SPY, ZNGA, DDD, BV

SPY has failed to make a new high with a bearish MACD crossover. A pullback to MA(50) level is expected. Consider short SPY to hedge some risks.

DDD has been traded sideway for days after it drops to 200 day moving average. Thursday, it closes above MA(200) by one dollar per share. Bullish MACD is around the corner. RSI is recovering. I expect a bounce back to $34.00 but not a reversal of downtrend since MA(50) starts to be pointing downwards.

ZNGA, one of the most discussed stocks on Twitter today, along BV. MA(50) is rising quickly and we would have a Golden bullish cross by the end of next week. ZNGA is trading at very low volume. Stop just below MA(200) or MA(50) at your choice and risk tolerance.

BV, as many of your might know, it has a pretty clear breakout on a double bottom pattern, with a volume setup just like the one in Textbooks. Most volume on the first trough and big volume on breakout. Despite, it pulled back a little bit today, I remain bullish and I have a stop order at $7.20. I have a target to $9.00 in less than a month.

1 comment:

  1. Thanks for the solid breakdown with graphical support. I'll make sure to put these guys on my watch list.

    ReplyDelete

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