Stocks in Play for September 7 (MOT, SIRI, WFC)

Hey guys I’m back from vacations and ready to post. I can say I had a wonderful time exploring probably the most popular of the Canary Islands ( Tenerife – Spain ). I haven’t had a chance to follow the market closely, but looking at the dailly chart of the US Indices the investor sentiment has finally changed……

Wells Fargo (WFC) hit resistance on Friday ( $26.20 ), but was not able to break through. This is a big resistance level for the WFC and once it breaks through, we will see a strong upside move. The technical daily chart shows the stock is in a short term bull market rally. The near-term outlook would depend on the price movement in the next few days. A close above $26.20 would impart bullishness and would help the stock move to the 27-28 area. Stay tuned.

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On Friday, Sirius XM Radio (SIRI) broke above the strong horizontal resistance of $.99 ( 50 MA ) to close at $1.01. Further rally could be seen to retest $1.066 medium term resistance. As long as the stock stay above $.99 area, the bullish scenario is still intact. Technical chart shows bullish sign with K line on top of D line and MACD gaining strength while RSI trending above neutral 50 mark. Next targets for the stock are $1.066 and $1.10. Only a close below $.95 reverses the current uptrend.

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Motorola (MOT) – Looking at the technical chart the MACD confirms price trend reversal and is accompained by bullish signal line crossover. Resistance is $8.01, which was Friday’s high. If MOT can break through this level, we should see an increase in volume as more buyers jump aboard.

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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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