Stocks in Play for Dec. 6: DRYS, EK, LSI, MOT

Motorola, Inc. (NYSE:MOT) traded just like the overall market. The stock started the day weak but rallied to go positive and closed at the highs of the day. This could be the start of a trend reversal for MOT, which is why I’ll be watching the stock on Monday. Volume has been increasing the past 3 days, as the stock sits in a tight channel. Resistance is $8.28, which was the high of November. If the stock breaks through, there is a good chance you will see a strong upside move, so watch the stock very closely next week. In addition, the CMF Index is showing a rising move, indicating a rising money flow into the stock. Keep MOT on your radar for Monday’s trading session.

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DryShips Inc. (NASDAQ:DRYS) has broken out of a major resistance line. The upside looks bright.

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Eastman Kodak Company (NYSE:EK) looks like it is a decent risk reward long play here. The stock had a huge move in late October moving over 15% in two days and has been consolidating that move since. A sustained move above $4.88 would complete the base and would give a confirmation of a breakout. The money flow index is starting to point upward and momentum turning into the green. In addition, the RSI still above the neutral 50 level. Technically, this stock is in a short-term UPWARD trend indicated by the 50 day MA.

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LSI Corporation (NYSE:LSI) has been is on a remarkable run since September and it doesn’t looks like the trend will change soon. At this stage, LSI is in overbought territory from a technical standpoint, however it does not mean the stock won’t still go up but a pull back is needed. I’m very bullish on this stock, but in situations like this, I prefer to wait for a pull back rather than chase the market.

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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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