Trade Ideas for Tomorrow: BIDU, DRYS, PMI, SINA

SINA Corporation (NASDAQ:SINA) has broken out to all time highs again. The volume on Friday’s break was decent, not great, so a sell-stop below $99.30 is probably a good idea. Anyway, SINA is now seeing blue skies as there is no resistance overhead. The technical chart is showing tremenous strength with KD rising and MACD above 0. In addition, both 50 day and 200 day are both rising showing the stock would be in bull market for a while. Only a close below $94.17 would warrant a change in sentiment.

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DryShips Inc. (NASDAQ:DRYS) – Share price is gathering momentum to the upside and the first objective is at $5.17. Additionally, the chart shows a MACD crossover, a bullish sign. Long-term investors may hold with a stop at $4.48.

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The PMI Group, Inc. (NYSE:PMI) has printed a bullish engulfing candlestick pattern on Friday. May be this is the right time to see a more significant rebound. The Bullish Engulfing is one of the more clear-cut two day bullish reversal patterns. The formation reflects buyers overtaking selling strength, and often precedes a continued rally in price. The technical daily chart is showing some bullish bias. Daily MACD has turned positive and KD line is indicating upward swing. If the surge can continue as the KD indicates, MACD may be pushed to above 0, indicating a buy. Keep PMI on your radar.

(click to enlarge), Inc. (NASDAQ:BIDU) looks strong enough to move forward. As expected, the stock broke up through the resistance at $131.90 last week accompanied by huge volume transacted. At this stage, further rally is still possible. The breakout signals a continuation of the prior advance. Even though I find the breakout bullish, I also find the stock a bit overextended. As long as $131.90 holds, this breakout is in great shape. The stock has the potential for a strong follow through, so watch it closely next week.

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Banner Corporation (NASDAQ:BANR) has been under accumulation for a couple days now. The volume on accumulation days consistently exceeded the volume on distribution days. That’s a bullish sign. Note, too, that the daily on-balance volume shows a pattern of higher highs and higher lows.From a technical standpoint, the daily chart looks Bullish with both 20, 50 and 200 daily moving averages going up and MACD on top of 0, RSI is also moving up and above its 50% level. The big movement in the past few weeks tells me to be patient. I’d stay long and keep a stop just below $2.33. Keep BANR in your watchlist.

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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 324 Articles

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

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