Thursday, September 1, 2011

Two stocks I am watching

Time for a morning update.

SPX managed to climb 3 points above SMA 75 on weekly chart but bulls don't seem too convinced to go further up.

I am watching two crappy stocks that suffered huge losses in the last few months but show now signs of recovery at least for a short "kill".

RIMM looks like is giving a "buy" signal.The best fitted EMAs for this stock, keeping in mind the last rally and the following plunge are EMA 12-EMA24 on daily chart. DMI has turned positive. SMA 200 is around 48, a level where the current rally may end.

The other stock is BAC. There is no buy signal yet for BAC but it may follow soon if general market continues to grow. Daily DMI is slightly positive. Both are high risk stocks. Take care.

I am going to have a look at some stocks to short later today..

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