Today is a pretty bullish market day. At the time of this post, the DJI is up .70%, NASDAQ .84% and S&P500 .69%. Here are some of the top stocks that are gaining today:
For today’s stock of the day analysis, I think one should take a look at YOKU. When looking at a very short term day-trading view of 2 minutes in ThinkorSwim, YOKU generated a buy signal based on RSI.
This buy signal can also be confirmed when taking a more macro look at YOKU. On a long term chart, RSI, MFI and STO all look like they are signaling an increase in YOKU’s price. MFI and RSI are good indications of YOKU’s price movement, as confirmed by the correct sell signal in February.
- For daytrading, I would keep looking at YOKU’s chart in a 1-3 minute view using RSI to determine when its about to pop. I don’t expect YOKU to experience more than a 2% gaining day, however anything is possible with daytrading.
- For a long term buyer, YOKU looks like a good buy candidate and I set a 60-day price target to $18-19.