April 19, 2008 at 07:19 AM EDT
HOT Breakout stocks to Watch next week - AMZN, NTRI, PMCS, EXPD, MA, BIDU
Chart courtesy of stockcharts ( click to enlarge ) BIDU - On the technical side, the chart looks very good here. The stock broke through $320 resistance on Friday, and is trading above all of two major moving averages. Plus, the MACD is positive and rising. Nevertheless the risk of correction has increased as RSI is approaching overbought level, but any correction will probably mean buying opportunity at current technical trend. After this breakout the target zone is now $418. Chart courtesy of stockcharts ( click to enlarge ) MA - Stock broke through resistance, but was not able to gather must momentum. Traders should continue to remain cautions and pre-define stop loss and targets. Hold with a stop-loss at $226.29. Chart courtesy of stockcharts ( click to enlarge ) EXPD - The stock broke out of a horizontal rectangle pattern on Friday with increased volume, which is very bullish. The technical chart shows the stock has just entered into a bull market as the stock is on top of 50 day and 200 day moving average. Plus, MACD also shows buy as MACD back on top of signal line. I believe this stock can run higher from here. Chart courtesy of stockcharts ( click to enlarge ) PMCS - The stock looks bullish as it has broken out of a small ascending triangle pattern. Chart courtesy of stockcharts ( click to enlarge ) NTRI - The breakout was accompanied by good volume. For the coming week, price would probably trade between $19.90-$23. The technical chart shows the stock has been in a bull market since begin of April as the stock has been on top of 20 day and 50 day moving average. In addition MACD also indicates bull market as the MACD signal line has been on top of 0 since mid March. Chart courtesy of stockcharts ( click to enlarge ) AMZN - Stock broke through resistance at $79 accompanied with high volume. We should be able to see some decent upside movement for the bulls here. Technical indicators such as KD and MACD also show buy signal as K line is on top D line and MACD fast line has just crossed on top over slow line. 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 weekend !!! AC
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