Trade Ideas: DRYS, GRS, LVS, SIRI

Las Vegas Sands Corp. (NYSE:LVS) – The technical chart has strong short-term resistance at $45 and the stochastic indicator has made a negative cross over to the downside. Trading volume also declined this week, it can mean that there is a higher risk of price trend reversal. On a daily closing basis, there is decent support between $43.91 and $43.65. Support below that level is quite strong at $41.70. Resistance, on a daily closing basis, will now be decent at $45.60. The $43.91 level, on a daily closing basis, must be considered an important pivot point. A close below this level on Monday will likely bring substantial pressure to bear and a drop below $43. May be it’s better to stay at the sideline and wait for a clearer trend.

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Gammon Gold, Inc. (NYSE:GRS) broke out today on a nice volume increase. If this chart does what is supposed to do, it will be going higher in the days to come. Technically, the stock is in a strong Bull Market with share price above 20, 50 and 200 daily moving averages. Let’s see if Monday the stock will confirm the breakout. Let’s keep an eye on her as i think momentum will pick up.

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DryShips Inc. (NASDAQ:DRYS) is holding above its major horizontal support at $4.96. Short-term investors can hold the stock as long as it trades above this support. Any close below this level would indicate that the recent rally may be near the end. Technically, the stock could go either way and my bias is to the upside, but I do not have enough conviction yet based on this setup.

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Sirius XM Radio Inc. (NASDAQ:SIRI) traded down over the last trading sessions, but not enough to make me stop watching. The volume was weak compared with recent sessions when prices rose, which means traders are not betting on the downside. I think the stock is still in a consolidation range, waiting to make a big move. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above $1.88 on heavy volume. Bulls could remain invested with a stop loss at $1.62.

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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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