Stocks in Play for Nov 10: DNDN, DRYS, EP, THQI

The stock was one of the better picks today and I am looking for the stock to continue this move. DryShips (DRYS) hit a high of $5.25 and I am a buyer once it breaks through those levels. The stock closed above a major resistance of $5 for the first time since June. The technical daily chart shows the stock is in a strong bullish trend with 20 day moving average on top over 50 day moving average and MACD is back above signal line. This stock has room to run, so watch it closely on Wednesday.

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El Paso Corporation (EP) broke through resistance at $13.68 accompanied with volume. We should be able to see some decent upside movement for the bulls here. On the technical side, the chart looks very good here and I expect a continuation of the upward movement.

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THQ Inc. (THQI) traded nicely again today and closed up 4.59% on strong volume today. As I mentioned earlier, the stock is poised to see upward trading and a move past $4.39 could prove to be a breakout point. I believe THQI is building momentum and verging on a bull run, so keep your eyes peeled to the trading this week.

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Dendreon Corporation (DNDN) – Trendline support has been broken this week on the daily chart at $34.94 with the next target at $31.05. An aggressive trader may want to short DNDN here. Technically, the stock is in a Bearish mode with MACD below signal line and the price below both 50 and 200 day moving averages. The stock has a key support level at $31.03. Buy only when the stock reverses from this support.

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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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