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April 01, 2011 – Comments (0) | RELATED TICKERS: XIDEQ , JNJ

XIDE - The stock showed good momentum today despite the flat market. The stock has been rising the last few days on a rising support after a significant pullback to fill the gap. I expect the stock to pullback a little to test support at around 11.00 to 11.06 and probably form a cup and handle pattern on the hourly chart.

 

Here's the chart analysis on XIDE

 

JNJ - Short - The stock has a very nice bear flag that's approach the downward trend line resistance and 50MA. The stock is already struggling at the 30MA creating a double shooting star which seems to be very bearish. Look for a break of the flag for entry.

 

Here's the chart analysis on JNJ

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