` Gary Investing Blog: 4 Break-above to watch

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Wednesday, July 3, 2013

4 Break-above to watch

Ford Motor Co. (NYSE:F) has made a 52week new high with great volume. Bullish MACD crossover. RSI is yet to reach overbought level. I think F will continue to rise this week. 50SMA would be a strong support.

Krispy Krime Doughnuts, Inc. (NYSE: KKD) breaks above and made a new 52w high. Similar to F, it has a bullish MACD crossover at the same time. However, volume is much smaller and RSI is about to reach overbought level.

 Tesla Motors Inc. (NADSAQL TSLA), one of the most mentioned stocks this week on StockTwits, has made a new 52-week high. Bullish MACD Crossover. With the generally decreasing volume after the huge run in May, I would suggest a close stop in case for a retracement. Stop around $107.00 (previous peak)

United States Oil Fund (NYSE: USO) get above $35.00 once again. Two weeks ago, it reaches $35.06 then fell quickly to $33.00. Similar pattern can be found in early-April and mid-May. Therefore, look real close to the oil price if you are investing in such commodities related with crude. I totally think it will drop back to $33.00 soon, but I cannot rule out the possibility that this breakabove would bring further bullish move.

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