?SPY is closing at its highest level since last Sept after better-than-expected numbers. SPY traded with more volume on green than red days. However, RSI is approaching overbought level. I expect SPY trading in a horizontal?channel?and above $145.00 in the coming month(s).
Tellabs, Inc (NASDAQ: TLAB) once again closes above MA(50). Friday's candlestick was an inverted hammer, a reversal pattern. Volume breaks above its downtrend since early last December. MACD is about to cross above its signal line, which triggered huge appreciation when it crossed last 2 times. I have a target of $2.70 if it closes above $2.30. Due to its small cap, remember to use stop order. I suggest somewhere just below $2.15.
I have mentioned Delta Air Lines Inc. (NYSE: DAL) in early December on its breaking above weekly ascending triangle. Delta has jumped from $10.00 to as high as $14.11 (41.1% gain) in less than 2 months. DAL has closed lower for 2 days already but very little volume. Many has mentioned its possible pullback due to its persisting high reading in RSI on Twitter. But I think even a correction takes place, DAL won't close below $12.71 (MA20) as down volume is MUCH less than up volume. The chart still look pretty good for entry, even at the current level.
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Source: http://gary-investing.blogspot.com/2013/01/3-stocks-to-watch-this-week-spy-summary.html
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Thank for re-posting my article.
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