Few trade ideas for Wednesday, February 29
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Pier 1 Imports, Inc. (NYSE:PIR) broke out of a short consolidation. Volume was strong on signaling that this move should hold. The technical chart above shows a continuation of the trend with MACD and RSI in the Bullish areas. The stock is in a strong bull market with both 50 day and 200 day moving average going up. I won't be surprise if PIR reachs new highs on Wednesday. Keep an eye on it.
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Coinstar, Inc.(NASDAQ:CSTR) recorded a new high in the last trading session. Short-term outlook for the stock is bullish. If in the next sessions new highs do not happen, I expect to see a decline due to the overbought conditions. On contrary, new fresh exposures on CSTR should be made only when the stock move aboves 62.72.
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Pacific Ethanol Inc (NASDAQ:PEIX) broke down its major support today and is heading toward the next support around $1.
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Clearwire Corporation (NASDAQ:CLWR) On watchlist no trigger yet. Long above the 200 sma.
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Reynolds American, Inc. (NYSE:RAI) The daily chart is showing a cup and handle formation. Breakout watch $42.
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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
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