Thursday, August 22, 2013

Two to watch out for

The market did work off the oversold conditions today with the S&P ending just below MA(50). So, that will be the first level to watch out for tomorrow. Here are a couple of stocks that I will be keeping an eye on tomorrow.

The first one is SREV. Nice ascending triangle on this, with resistance at 13.03. Watch out for volume coming in.

And here is its weekly chart. Once it crosses the 13 mark, the next resistance is at 13.99.

The next one is NTES. Consolidated nicely in the last couple of days but could do with some more consolidation. But watch out for a break of previous highs of 74.69 with volume.

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Take care and good luck!

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