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Five Stocks Stare Down Resistance

This column was originally published on RealMoney on Nov. 14 at 8:30 a.m. EST. It's being republished as a bonus for TheStreet.com readers.

My traditional view of technical analysis is that it's best in the short-term. A recent email, though, made me at least rethink my views.

Gary, I've enjoyed your articles over the years and today's article raised a question in my mind. Although this may not be answerable, I wonder whether (using TA) you have been more successful with short trades, as opposed to long trades. Could this be a topic for a future article or if you've already addressed this, could you pass along the reference? Keep up the great work. -- F.O.

That question is a good one. I used to think TA was more effective in the short term, and if pressed, that's still my basic belief. However, over the years I've seen trendlines, support and resistance work in a wide variety of time frames, including weeks, months, and even years. For some good examples, check out my column on "long-term stocks" I showed a few weeks ago.

Today, the Dow Jones Industrial Average, Altria (MO), Citigroup (C), Qualcomm (QCOM), AMR Corp. (AMR) and nVidia (NVDA).


And that is the final word from MCI arena, where the Washington Wizards are quietly working their way into one of the NBA's best teams. Of course, until they win a championship, they'll always play second fiddle to the ever-disappointing Redskins.


P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our free trial offer to TheStreet.com RealMoney premium Web site, where you'll get in-depth commentary and money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice -- try it now.








Charts produced by TC2000, which is a registered trademark of Worden Brothers Inc.

At the time of publication, Smith was long Altria and Citigroup, although holdings can change at any time.

Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and also produces a daily premium product for TheStreet.com called The Chartman's Top Stocks -- click here for a free two-week trial. While Gary cannot provide investment advice or recommendations, he appreciates your feedback; click here to send him an email.

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