Tuesday, July 10, 2007

STOCKS STILL PRESENTING BUYING OPPORTUNITIES

I did scratch CROX off my list due to a little weakness, but today it presented a buying opportunity. Click on the chart to enlarge it to see what I am talking about. CROX broke out of a RESISTANCE line (red line) on higher than average trading volume which is seen at the bottom of the chart. The yellow circles denote two other factors which help contribute to a buying opportunity. 1. The stock bounced of its 30 day moving average (larger ellipse) 2. The stochastic indicator was near an oversold area and has now turned up. Based upon all of these factors, CROX is a buy opportunity all the way up to $49.50.

AMZN has also presented a buying opportunity as it has broken out of consolidation as noted by the stock breaking above the red line on higher than average trading volume. Personally, I am going to buy anywhere up to $75.

If I were to pick between these two stocks to buy, CROX would be my baby due to the fact that CROX is a new company with earnings that are growing a lot faster than AMZN.
GOOD LUCK TRADING. JD

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