Stocks in Play for Nov 4: AIG, CSIQ, EK, MOT

American International Group, Inc. (AIG) broke out of a one-month range on expanding volume. Looking at the technical chart the stock is trading well above its 50 and 200-day moving averages. The daily relative strength index is Bullish and calls for further upside. Investors with short-term perspective can buy with target of $45.92 and with the stop-loss of $41.73.

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Motorola, Inc. (MOT) starts showing a buy signal again. However after recent decline in share price, a good entry point will be only in a break of its 50-day moving average at $8.12 on heavy volume.

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Canadian Solar Inc. (CSIQ) broke decisively above its 10-day moving average and should test the 200 day MA (currently at $15.98). Although the stock didn’t perform well last month, we start to see now some signals of rebound as the technical chart shows positive momentum is back. This could be the start of a new short term uptrend and with %K line now on top of %D line the stock has the chance to go higher.

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The volume was a little light on today’s trading session, a little over 5 million of shares traded. The stock is currently up against a resistance at $4.82. Perhaps if it breaks through there, the volume will increase and a new run will develop. Eastman Kodak (EK) could be a nice continuation long. Stay tuned on it. $4.82 is a key level.

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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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