Stocks to watch tomorrow - RIMM, CREE, MT
Chart courtesy of stockcharts CREE - This stock has been is on a remarkable run since last month and it doesn’t looks like the trend will change soon. Today stock broke out an important resistance at $34.80 with heavy volume. After today session, stock has now the chance to start a new rally as K line is now back on top over D line indicating buy signal. If MACD can also be back to 0 then there will be more buyers coming back for the stock. Keep CREE in your watchlist. Chart courtesy of stockcharts RIMM - In the last trading sessions, the stock found resistance around its downtrend line and declined. This is usually a negative signal. Recently good news has brought the stock back up again but with the stock approaching resistance at $110 it is better to wait right now and wait to see if the stock can break above the resistance. This stock may go down ( probably to its 50-day moving average ) before it goes back up. Chart courtesy of stockcharts MT - The stock should pause around its resistance at $80 after recent rally in share price. The recent action in MT is very promising. Last month stock aggressively moved off its lows of $55.63 to rally till near $79 with a volume above average. A possible breakout over $80 is very likely in the sessions ahead. However, the stock needs a rest here and I'd would like to see a healthy pullback to work off overbought conditions. Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples. That's All. Have a nice weekend !!! AC
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