Tuesday, July 26, 2011

Ready To Move

Here are three stocks that been beaten up for a while, and now they appear to be ready to move.

GS has been trending down and showing divergence between price & MACD. It has broken out the two months downward price channel and trying to break above 139.



HPQ formed an inverted head & shoulder between mid May to the present. If it breaks out of this price pattern, look for potential move to fill the price gap near 39-40 level.



MU has formed a double bottom and could be making a move higher.



Disclosure: long GS & MU, no position on HPQ


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