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Wednesday, January 28, 2009

Watchlist: UNP, V, EOG, ABX

I caught the flu bug (yet again) and the last few days was busy with Chinese New Year and getting as much rest as I can. But I reckon I didn't miss much action in the stock market as it was pretty much range bound the last few sessions. Today, we'll have the FOMC policy statement and the market should have a clearer direction after this.

No charts today for this post, but here's some stocks you can watch out for:

-Union Pacific Corporation (NYSE:UNP): Approaching horizontal resistance at $45-$46. This level also coincides with the 50% Fibonacci retracement from prior swing high to low.

-Visa Inc. (NYSE:V): Recorded a new low in recent session. Looking like a bear flag. A successful break & close below $42.5 would indicate another leg lower.

-EOG Resources, Inc. (NYSE:EOG): Higher lows and support at $60, making of a descending triangle. Watch for break of $60 for confirmation

-Barrick Gold Corporation (NYSE:ABX): If you're still liking gold, wait for a pullback to about $32.5-$35 in this stock before considering dipping into the uptrend channel.
Edit: Here's 2 complimentary videos from MarketClub:
-ABX Barrick Gold Analysis
-All Wound Up Over Gold


As you know, we're in the midst of the earnings seasons, so please do check earnings date for swing stocks.

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