Stocks in Play for August 13 (ADSK, C, DYN, MOT)

Citigroup (C) – The stock had a moderate bullish momentum today closing at 3.87. The main scenario remains to the downside but as long as price stay above 3.85-3.87 area the upside correction scenario remains likely. Immediate resistance at 3.90 ( 200-day moving average ). Consistent move above this area could trigger further bullish pressure towards $4. On the downside, a break below 3.85 could end the upside correction targeting $3.77 region.

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Motorola (MOT) – The stock failed to continue its bearish correction today. On daily chart above we can see that price is now testing the trendline resistance indicating critical phase. A break above the trendline resistance could trigger further bullish pressure testing 8.35/8.40 region and could potentially end the downside correction.

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After the market close, ADSK reported better then expect earnings. The stock is trading up after hours and should be a big winner on Friday. The stock is going to be hot tomorrow, but you will have to be smart when you trade this stock. If Autodesk (ADSK) gaps above or trades through resistance early in the morning, wait some minutes before buying the stock.

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Dynegy (DYN) is in a bearish trading condition. The fall in the stock has been extended by the violation of the support line at $3.46 and as long as the stock trades below this line stay bearish, this bearish trading condition will prevail. Fresh investments in DYN are recommended only on a daily close above 3.46.

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Other stocks to watch:

Cell Therapeutics (CTIC) – The stock lost momentum and started falling down. Next Support $.30

Bank of America (BAC) – It seems to me that everyone is looking for a bounce here.

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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