Thursday, June 3, 2010
I do have a bunch of stocks that are looking bullish right now. I am showing here to you the best two. You need to check the fundamentals on them since I am focusing exclusively on the technical part. At least look to see if the company is in talks about a merger or something like this.
RSH (RadioShack). Not immune to the correction but is has nicely jumped up from SMA200. Uptrend is confirmed by DMI that turned positive.
ROST (Ross Stores). Among a very few stocks that didn't even touched SMA200 during the correction. Again, a nice confirmation that the trend has turned positive from DMI (cyan arrow, lower panel). Both stocks look also very good on 30 minutes chart (EMAs did cross)
Of course you need to keep in mind that the general market is on hold right now. As I am writing this SPX is fighting to get above SMA200. If the move fail expect a strong move down
All the best!
Posted by babaro at 11:00 AM