DJ,
COST's short term support is at 51-52. If it closes below $51, then I would expect further drop. It needs to close below $51 first. It is kind of like the nifty fifty. Looking at the weekly chart, COST really has been on a steady uptrend for two years now but the latest market weakness has finally disrupted this trend.
207.95.154.130
Unlike WMT however, COST went down first and more (look at the weekly stochastics). Anyway, WMT is the leader in this category and if WMT goes, COST has no place to hide.
AFS - its support is at 58-59. However, I am a little cautious here as it may not go there without a rebound first. It all depends on how the banking/financial service sector performs on Monday. Those sucker analysts have been wildly recommending their industry so we shall see whether moms and paps decide to rob their homes. If HK tanks and more fear of banks losing oversea investment, I would stay put longer. If not, this sector is oversold and they will likely participate in an overall market rebound. Also look at its evil twin KRB. KRB has a support at 25 1/2 - 26 which is very close to its close on Friday. If it falls below this, AFS should go along as well. All these good for 1 week.
Diamond,
DELL - support is really at 105. I'm sure it will trade below 117 intraday on Monday but if it also closes below 117 and the internuts continue to lose 10%, then I would say DELL's trend has turned. In fact, that would signal a rewriting of the internut and super tech rules. DELL, CSCO, MSFT all share the same strength as they are the remaining heavy weights in the cloud 9 club. INTC is already out. |
