Stock Picks And Trade Ideas For Tuesday: Becton Dickinson And Sohu.com

Chart courtesy of www.stockcharts.com ( click to enlarge )

Becton Dickinson (BDX) - The technical daily chart for BDX is not looking good. The MACD line is still below 0 showing a bearish bias. ADX is at value of 33 and with -DI above +DI, it indicates a continuation of the down trend. RSI is oversold at this level but in a downward trending market, oversold market tends to become more oversold. A close above new resistance in the 64.06 area would forecast a test of intermediate-term downtrend resistance near 66, while a close below 61.50 will reconfirm the current downtrend and predict additional losses. The downtrend continuation scenario is more likely at the moment.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Sohu.com (SOHU) - I expect the stock to remain on the downtrend unless we see the prices closing above the $50 area. Technical indicators are bearish as MACD momentum and histograms trend lower at new lows in negative territory and RSI holds near recent lows in bearish territory. The chart is weak. Hold your current position with a stop at $42.

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