Stock Picks For Tuesday - Yahoo And Qwest

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

Qwest (Q) reversed at the down-trend line and looks to be heading down towards support $3.51-$3.66 range. If the weakness continues and the stock breaks the support at $3.66, there will be a good chance that the stock will test the $3.51 (200-dma ) support. However, if the stock sustains above its $3.70 level during some sessions, then it may go to $3.90. The stock is currently in a downtrend.

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

Yahoo (YHOO) made a small move on Monday, but it was with an increase in volume, which shows us there are buyers in the stock. The resistance level for the stock is $15.19, which was Monday’s high, but don’t be surprised to see some additional resistance at the $15.38 price level ( 50 dma ). I expect to see volume increase once the stock breaks resistance. The stock is probably back to uptrend and with KD rising we could see possible rally coming for the stock. Let’s keep an eye on Yahoo as i think momentum will pick up.

Other Stocks to Watch :

Banco Bilbao Vizcaya Arg Ads - BBV ( Record Price Break Out )
GAFISA S A SPONS ADR - GFA ( Record Price Break Out )
Conceptus Inc - CPTS ( Record Price Break Out )
Cresud S.A.C.I.F. - CRESY ( Record Price Break Out )
Woodward Governor Company - WGOV ( Unusual Call Option Volume )
Staples, Inc. - SPLS ( Unusual Call Option Volume )
Tesoro Corporation - TSO ( Unusual Call Option Volume )
Corinthian Colleges, Inc. - COCO ( Unusual Call Option Volume )
Advanced Micro Devices, Inc. - AMD ( Unusual Call Option Volume )
Osiris Therapeutics, Inc. - OSIR ( Unusual Put Option Volume )
Jackson Hewitt Tax Service Inc. - JTX ( Unusual Put Option Volume )
Lockheed Martin Corporation - LMT ( Unusual Put Option Volume )
Cisco Systems, Inc. - CSCO ( Bearish Engulfing )
Wells Fargo & Company - WFC ( Bearish Engulfing )
KeyCorp - KEY ( Bearish Engulfing )
Huntington Bancshares Incorporated - HBAN ( Bearish Engulfing )
Fifth Third Bancorp - FITB ( Bearish Engulfing )
El Paso Corporation - EP ( Cup and Handle )
Morgan Stanley - MS ( Cup and Handle )
Chesapeake Energy Corporation - CHK ( Cup and Handle )
Verizon Communications Inc. - VZ ( Cup and Handle )

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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