Stock Picks For Thursday: Citigroup And Alcoa

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Citigroup (C) is trying to make a move, but the weak market keeps holding the stock back. Tuesday’s high was $4.80, which is resistance for the next upside move. I’m buyer of C if the stock can break through this level. I think this is a normal movement in consolidation phase and we might see a real bullish movement anytime soon. There looks to be strong buying in this stock, so keep a close eye on C for Thursday’s trading session.

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ALCOA (AA) is trading higher after hours on Wednesday, as the company released their earnings. Alcoa posted a surprise profit on cost cutting and higher aluminum prices after three consecutive quarterly losses. Wall Street had expected another loss for the aluminum producer but Alcoa on Wednesday said its third-quarter net earnings were $77 million, or 8 cents per share, compared with earnings of $268 million, or 33 cents per share in the same quarter of 2008. I see a sweet gap up tomorrow maybe openning around $15 or more. There will be a lot of movement in AA so watch the stock closely on Thursday.

Other Stocks to Watch :

Today’s candlestick pattern was a Bullish Engulfing

CTIC - Cell Therapeutics
GE - GENERAL ELECTRIC CO
COP - ConocoPhillips
MU - MICRON TECHNOLOGY INC
GS - GOLDMAN SACHS GROUP
WAG - WALGREEN CO
JCP - PENNEY J C CO INC
WLP - Wellpoint Inc
RRI - Rri Energy Inc
SUN - SUNOCO INC
IVZ - INVESCO LTD
ALL - ALLSTATE CORP
TEX - TEREX CORP
CHS - Chicos FAS Inc
JNS - Janus Capital Group
FDX - FedEx Corporation
OSK - Oshkosh Corp
JOYG - Joy Global Inc
HUM - HUMANA INC
CMA - COMERICA INC
TSTR - MOTIENT CORP
TCB - T C F FINANCIAL CORP
ETN - EATON CORP
EXH - Exterran Holdings Inc
BEAV - BE Aerospace, Inc.
SOL - Renesola Ltd

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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