Stocks in Play for July 12 (BAX, DRYS, THQI, YHOO)

Yahoo! (YHOO) traded higher on Friday as the Internet stocks continue to show strength. Today’s high of $14.93 is resistance for Monday’s continuation move. If the stock can break through this level we should see strong volume as traders buy the stock. I’ll will watch YHOO closely on Monday.

THQ Inc. (THQI) is bouncing off lows that were set this week and could be ready to move much higher. There is a good chance the stock will move higher next week. Resistance is $4.44, which reflects Friday’s high of the day. There could be very good upside in this trade, so keep a close eye on THQI for Monday.

DryShips (DRYS) has broken the trendline on the daily chart indicating a possible trend reversal. Volume was good and this could be a buy candidate.

Baxter International (BAX) has an interesting daily chart as the stock looks to be ready for a good upside move. The area comprehended between 44.63 and 45.85 represents a heavy resistance. Some selling pressure will appear at this levels ( RSI over 60) but I’m betting on a move up to $45. The stock closed up $0.52 or 1.20% today. It broke above Thursday’s high, which is another signal for an upside move. I’m planning to long in a break above $44.63.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.

About Antonio Costa 325 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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