Monday, May 01, 2006
Day
Trading KLA-Tencor Corp (NASDAQ: KLAC)
KLA-Tencor Corp (NASDAQ: KLAC) has been trading relatively weak to the market as of late. the weakness could continue, but it will
have to pass through support at 48 first. If KLAC is able to
make its way through 48, it will likely continue lower.
The trouble
started with resistance at 50. KLAC made several
attempts to pass through the 50 res, but was unsuccessful. Our Classic Daytrading system is keeping a
close eye on KLAC for a shorting opportunity. As long as RSI levels are not too low and KLAC is still showing relative weakness, this
stock is a good intraday short candidate. Keep in mind, the 48 support must be
surpassed first.
Happy Trading,
Andy Swan
co-founder, DaytradeTeam
P.S. - Swing Trading is the art of capturing profits in trending stocks in a relatively short amount of time.
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