Trade Ideas for Next Week: AAPL, DRYS, EK, RIMM

DryShips Inc. (NASDAQ:DRYS) – Looking at the technical chart below, we can see a nice pull back after recent advance. The volume on this pull back has been minimal compared to the volume on the way up, so there is nothing to worry about. This stock is still displaying upside momentum and is poised to move higher from these levels. Let’s see whether the stock can gather enough momentum to break through $6.32 next week. If the Bulls are able to push through this level, there will be another rally towards $6.68 . The uptrend continuation scenario is slightly more likely at the moment. Shareholders may remain invested with a stop-loss at $5.69.

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Apple Inc. (NASDAQ:AAPL) enjoys a strong support at the 318-319 zone. Only a close below this zone would have negative implications. The near-term trend is bullish and would remain so, as long as the stock holds above this area. Fresh buying may be considered on a close above 325.

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Research In Motion Limited (NASDAQ:RIMM) traded up on Friday and I am looking for a continuation move next week. Resistance is $62.15 and I expect an increase in volume once the stock breaks through.

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Eastman Kodak Company (NYSE:EK) continued to show strength with another gain on strong volume. Today’s rally put shares above potential round-number resistance at the $5.50 level, which is a bullish sign. The technical chart looks very bullish with a short-term target of $5.88.

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Other stocks to watch:

Shares of Plug Power Inc. (NASDAQ:PLUG) continue to be very volatile and a stock worth watching. I plan to buy PLUG the next time it breaks up through $.40

Shares of Bank of America Corporation (NYSE:BAC) closed back above $12.50 on Friday, which is bullish. Support is located around $12.28.

Shares of Universal Travel Group (NYSE:UTA) are starting to heat up again and are worth watching. As I have been saying, I think this stock can trade above $7 during the next four weeks. The stock is forming a possible inverted head and shoulders pattern with a neckline at $7.

Shares of Motorola, Inc. (NYSE:MOT) hit a new 52 week high on heavy volume Thursday. Resistance is located at $9.36 and then $9.45.

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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