Stock Market Analysis - Learn to trade stocks online

Thursday, January 1, 2009

Stock to watch for tomorrow (1/2/09)

Stock Symbol: PNK
Company: Pinnacle Entertainment, Inc
Trading Price: $7.68
Trading Volume: 1.21M
Average Volume 975000

Entry Signals
1. Relative Strength Index (RSI) is pointing up up to 60
2. Candlestick is bullish (bullish engulfing pattern)
3. Stochastic crossover over to 65
4. Trading volume is greater than average

Something to watch out
1. Relative Strength Index (RSI) and Stochastic are getting closer to the overbought area (RSI is 70, Stochastic is 80 to be considered is overbought)
2. The stock rose 10% yesterday, so people will take profit tomorrow. However, if the stock starts to drop with strong volume tomorrow, you must sell the stock.

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