Stock Picks For Friday: Melco Crown Entertainment And Citigroup

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Citigroup (C) - The stock regained some strength again. On daiy chart we can see that after breakdown to the downside of the former bullish channel support line, the stock is now push to the upside and testing the same line which now has become a resistance. The bias is bullish in nearest term testing 4.52 but remains unclear in medium term. The stock is above 50 day and 200 day moving average and if the upward trend can continue for another week and 50 day moving average can cross on top over 200 day moving average than the stock will be ready for a big rally.

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Melco Crown Entertainment (MPEL) has had a bearish move recently. After breaking out to new highs, it has started to retest the previous resistance line, which is now the support. If the support holds, we may see a move back up to 7.73. The recent increase in trading volume suggests that this stock has caught the attention of some traders. The bias is bearish in nearest term testing 7 support area but remains bullish in medium term. On the technical side, the MACD indicator is going up showing a positive swing. In addition, the stock still trading above 50 day and 200 day moving average, also a bullish sign.

Other Stocks to Watch :

Today’s pattern was as follows: Bullish Engulfing

MSFT - Microsoft Corporation
DNDN - Dendreon Corporation
SO - Tesoro Corp
RTN - RAYTHEON CO NEW
AMT - AMERICAN TOWER CORP
APOL - Apollo Group, Inc.
BEST - Shiner Intl Inc
VTG - Vantage Drilling
BKE - Buckle Inc
ITRI - Itron, Inc.
MDRX - Allscripts, Inc.
VLNC - Valence Technology
UTA - Universal Travel Group
TRP - Transcanada Corp

Today’s pattern was as follows: Bearish Engulfing

AA - ALCOA INC
DAL - Delta Airlines
WMT - Wal-Mart Stores Inc
UAUA - UAL CORP
STX - Seagate Tech
TLAB - Tellabs, Inc.
TOL - TOLL BROTHERS INC
MFA - Mfa Financial
AVP - AVON PRODUCTS INC
FL - Foot Locker Inc
GLBL - Global Industries
CNXT - Conexant Systems
AVII - AVI BioPharma, Inc.
PGN - Progress Energy Inc
SONC - Sonic Corp.
TSL - Trina Solar Ltd
LIFE - Invitrogen Corporation
MED - Medifast Inc
LNT - Alliant Energy Corp

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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