On Stockpickr Answers, chartist Dan Fitzpatrick -- of StockMarketMentor.com and RealMoney -- has responded to a new batch of questions posed by members of the Stockpickr community.
Anybody can ask, respond or comment at Stockpickr Answers, and the top responders get ranked in our "Top Analysts" section. Here are a few of the questions to which Fitzpatrick has recently responded:
- Is Apple (AAPL) - Get Report stalling at $123? Will Friday see a big correction? Time to get out and sit back and get back in later in July? There is never a time machine around when you want one.
- In looking at General Electric's (GE) - Get Report chart, I noticed that the stock has pulled back after recently trading at roughly $38. The chart now looks like a "double-top" pattern which I've read is considered to be a reversal pattern. Could you give me your take on this one?
- Dan Fitzpatrick, whom I respect a lot, just posted an article where he does some technical analysis on Jones Soda (JSDA) among other stocks. I've been vocally very bullish on this company here on Stockpickr, and this is why I don't buy much into TA. He said he sees it trading back down to $15, and to keep a stop there. He also says to "look for a bit more evidence of support before going back in." I think if it goes back to $15, it's a gift, and I'll be buying down all the way because of my bullish thesis on the next quarter. What do you guys think?
- I have stocks that I bought before I used technical analysis for buy signals -- like Qualcomm (QCOM) - Get Report, Monster Worldwide (MNST) - Get Report, Electronic Arts( ERTS) and Lamar Advertising (LAMR) - Get Report. Should I just sell or hold?
- Could you please comment on Charles Schwab (SCHW) - Get Report, Broadcom (BRCM) and Fording Canadian Coal Trust( FDG)?
- Would you please take a longer look at the S&P 500 and give us an idea of the current state of the uptrend?
- Simple moving average or exponential moving average? Or both? Which one is preferred?
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