Wednesday, September 07, 2005

My first Technical picks

I don't have anything major to post, so I'm going to post my technical picks from the past few days.
I think the majority of the picks are from 8/31 and then the last few I'll note are from 9/7.
I'll note the ticker, price, and why I think they will go up or down. Again, I'm a beginner so any help is appreciated. All these picks are based mainly on various moving averages, support/resistance levels, and volume. My first picks turned out pretty well, but that doesn't mean anything to me right now.
I'll try to track these on the right hand side.

PFE: $25.35 It's almost reaching the 50 day moving average. It's beginning to rise away from it's downward momentum (short-term starting at around $28.90). The key areas I think are under $27 and then around $27.50 has resistance. Support at $25.
Price today: $26.30

MRK: $28.17 Basically the same setup as PFE, I had the same reasons jotted down.
Price today: $29.25

LLY: $54.80 Broke past the 50MA, the 100 and 200 day MA are flattening. Resistance because of volume at 57, major resistance around $60.50
Price today: $56.36

SGP: $21.31 Beginning of divergence between 50 and 100 MA
Price today: $22.38

CAH $59.70: trending up, 100MA = floor of trned, but it's showing short-term weakness around 60. The key thing to watch for is if it breaks 60.
Price today: $59.70

AET $79.54: short-term uptrend, rising above MA's and broke through the 50MA
Price today: $83.20

CMX $46.71: reversed downtrend in short-term and rising averages
Price today: $48.65

BIIB $42.41: 50 crossed over the 100MA, both starting to trend upwards
Price today: $42.47

9/7 Picks
PHG $27.32: rising MA's
PIO $15.62: MA's are flattening, base is forming. Resistance is 16 due to heavy volume on 6/17 (then it was $19)
RIMG $25.39: Increasing MA's and RSI (now at 60)
SANYY $13.47: Crossed above 50 and now around 100MA, 2 months of heavy volume (could be forming a base)
Short trade FLOW $8.44: losing momentum with a RSI trending downward

We'll see how these turn out.

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