Trade Ideas: SIRI, NFLX, COH, AMZN

Good morning everyone !!! Let’s take a look at the chart of the Sirius XM Radio Inc. (NASDAQ:SIRI) once again. The stock remains one of the hottest stocks on the market with a lot of hot indicators showing up. The slope of the upward move is very steep accompanied by increasing volume. This suggest that this run-up is well supported by the buyers. SIRI’s has been in a nice uptrend for the last two months and it looks very strong with both 50-day and 200-day moving average going up while %K line is on top of %D line. MACD is positive and above the signal line. RSI is moving up and just crossed its 70% level, so this means a possible correction is near. This may give us a chance to jump in on the stock when it moves lower. Resistance is now $2.23, which was Friday’s high of the day. If this zone is surpassed, getting to $2.37 would be a possibility. Add to your position once there is a close above $2.23. On the downside, in case the stock price drops, the current support is $2.09. If that breaks, the next support could be the previous breakout area.

(click to enlarge)

This is a short term look at Netflix, Inc. (NASDAQ:NFLX) chart :
– Friday, the stock closed again below its 10 SMA. This is generally considered to an indication of a short term bearish trend.
– The RSI is currently at 46.57% which indicates that the stock is trading in the bearish territory.
– The +DI line is below the -DI line
– The Stochastic Oscillator is registering a bearish signal as the %K is below the %D.
– The On Balance Volume indicator presently offers also a bearish signal.
– Short term: Prices are moving down.

Fresh exposures may be avoided for the moment. A close below $225.92 would be an early sign of weakness and a drop below $220 would impart weakness.

(click to enlarge)

Coach, Inc. (NYSE:COH) held above the break out point on Friday and still has a chance to continue higher from here. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. Keep an eye for a possible breakout over $60.34.

(click to enlarge), Inc. (NASDAQ:AMZN) looks to be forming a bullish flag here. Buy point is on the day it breaks the upper line on heavy volume.

(click to enlarge)

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.

Visit: AC Investor Blog

Be the first to comment

Leave a Reply

Your email address will not be published.