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Technology Stocks : Daily Technical Analysis (Elliotwave)

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From: more100	2/10/2016 4:15:27 AM
	of 37

The Top 2 NASDAQ 100 Stocks -- MAT $FAST Why only 2 stocks instead of the Top 5? Because the market stinks!. For me to feature a stock it must meet a minimum hurdle. The stock must have technical buy signals of 80% or more, be trading above its 20, 50 and 100 Day Moving Averages and have a positive 50-100 Day MACD Oscillator. Only 2 NASDAQ 100 stocks make the grade. How bad is the market? As I'm writing this post the majority of the 10,000+ stock in the Barchart database are trading below their 20, 50 and 100 DMAs. Those trading above are: 29.19% above their 20 DMA 15.55% above their 50 DMA 14.74% above their 100 DMA That's pretty bad. Agreed? Ok, the 2 stocks making the grade are Mattel (MAT) and Fastenal (FAST). Mattel (MAT) Barchart technical indicators: 96% technical buy signals Trend Spotter buy signal Above its 20, 50 and 100 day moving averages 8 new highs and up 17.45% in the last month Relative Strength Index 70.55% Technical support level at 30.87 Recently traded at 31.55 with a 50 day moving average of 27.04 Fastenal (FAST) Barchart technical indicators: 80% Barchart technical buy signals Trend Spotter buy signal Above its 20, 50 and 100 day moving averages 6 new highs and up 12.09% in the last month Relative Strength Index 66.02% Technical support level at 41.76 Recently traded at 44.03 with a 50 day moving average of 39.89

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