An NYSE Scalper's Tale - A Trader's Diary

Monday, March 27, 2006

What I'm Watching for Tues Mar 28, 2006

Tomorrow, I'm going focus only on 5 stocks. I have found that the last couple of trading days, I kept flipping to different stocks and never got a real "feel" for each particular stock. So here they are:

Citigroup (C) has a slow uptrend going and has support at $47.50 and a resistance at $48. The $48 level is starting to look important. Citigroup closed at $47.64

Corning (GLW) looks like it might be stuck in a range. Support for GLW is at $27 and has resistance at $28. If GLW can break $28, it can then challenge it's 52 week high of $28.28. Corning closed at $27.67.

JP Morgan (JPM) recently broke it's resistance level of $42 and managed to hold above it again today. JPM has a 52 week high of $42.43. It closed at $42.11.

Home Depot (HD) recently broke the $43 level and popped up a couple of days ago, but today it fell back down below it. We'll see if it can reclaim the $43 level and if it can make new 52-week highs (currently at $43.98). HD closed at $42.99.

Lastly, Walmart (WMT) is in an uptrend but has pulled back slightly. Let's see if it can continue upwards and if it can climb back above $48. Walmart closed at $47.95.


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