Direct TV Soar To New High
DirectTV(NASDAQ:DTV) has climbed to a new high today for 2010. The stock has rallied higher by more than 20.0 percent since the early July low when it traded at $33.25. By all means this is a very strong chart move and a very strong stock. The next resistance levels to watch for this stock are the $42.00 area and much more at the $45.25 level. Both resistance levels could see pullbacks.
Dish Network Corp.(NASDAQ:DISH) unfortunately does not have as strong of a chart as DirectTV. This stock is very range bound and trading near the lows for the year. Dish is also trading below it's daily 50 and 200 moving averages which indicate weakness. Therefore, should the current market rally begin to decline this stock is likely to come under severe pressure. Dish Network will have daily chart resistance around the $19.75 - $20.00 level should the stock continue to trade higher. The next major downside support level for the stock is around the $16.50 level.