Zacks.com Announces That Dr. Melvin Pasternak Highlights the Following Stocks: Flowserve, Adobe Systems, and Macromedia.CHICAGO -- Use Dr. Melvin Pasternak's technical analysis to combat this volatile market and read about Flowserve (NYSE NYSE See: New York Stock Exchange :FLS FLS Falls FLS Forward Looking SONAR FLS Front Line States FLS First Level Support (helpdesk) FLS Fire Life Safety FLS Fatty Liver Syndrome (hepatic lipidosis) FLS Foreign Language School ), Adobe Systems Adobe Systems Incorporated (pronounced a-DOE-bee IPA: /əˈdoʊbiː/) (NASDAQ: ADBE) (LSE: ABS) is an American computer software company headquartered in San Jose, California, USA. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADBE ADBE Adobe Systems, Inc. (stock symbol) ), and Macromedia (NASDAQ:MACR MACR Macromedia (stock symbol) MACR Missing Air Crew Report MACR Major Accident Control Regulations (UK) MACR Monthly Arrest and Citation Register MACR Modified And Combinable REMIC ). Dr. Melvin Pasternak is the editor of the StreetAuthority Swing Trader newsletter. Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84 Highlights from the May 2nd Featured Expert column by Dr. Melvin Pasternak include: T-R-E-N-D For nearly the last two weeks, the market has been stuck in a pattern of moving up one day and then down the next. The S&P 500 remains trapped in a narrow, but volatile trading range Trading Range The spread between the high and low prices traded during a period of time. Notes: When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. . The upper end of this band is the short-term peak of 1164.80 set on April 26th. The lower end is April 20th's low of 1136.15. The S&P continues to hover near the lower Bollinger band Bollinger Band A band plotted two standard deviations away from a simple moving average.  , which is now at 1143. The index remains below several significant moving averages, including the 40-week at 1157, the 30-week at 1175 and the 10-week at 1180. The broken uptrend line from the March 2003 low is near 1178. If the S&P is able to break through initial resistance near 1165, then it should face strong selling pressure between 1175 and 1180. There is support dating back to the Fall of 2004 in the form of a band of congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. between 1115 and approximately 1135. STOCKS TO WATCH IN THE COMING WEEK Flowserve (NYSE:FLS) - manufactures flow control equipment for use in applications such as oil wells and power generation. The stock has advanced strongly, probing the $29 level before retreating. The shares have good relative strength. FLS now has support just under $27 and could test $30. Adobe Systems (NASDAQ:ADBE) is a well-known software company responsible for such desktop publishing desktop publishing, system for producing printed materials that consists of a personal computer or computer workstation, a high-resolution printer (usually a laser printer), and a computer program that allows the user to select from a variety of type fonts and sizes, staples as Photoshop. The stock traded as high as $68.89 in early April, before falling rapidly along with the market. Two weeks ago, the company announced a takeover of Macromedia (NASDAQ:MACR), an internet software company. Adobe fell to a low of $53.13 on the news, but has since recovered nicely. There is resistance near $60.66, where ADBE closed the day before the takeover announcement. Read Dr. Melvin Pasternak's complete commentary and receive more information on the stocks above as well as additional stocks by clicking: http://at.zacks.com/?id=85 About Zacks Featured Experts Successful investing requires professional advice from knowledgeable experts who can help investors achieve their financial goals in good markets and improve their portfolios, especially in bad ones. That is why Zacks Investment Research Zacks Investment Research A firm that compiles earnings estimates and brokerage firm investment recommendations for thousands of publicly traded firms. has assembled the best investment experts in the business to offer their powerful advisory newsletters on all the major investment topics: Stocks, Mutual Funds, Bonds, Options, Futures etc. Additional recommendations from Zacks.com Featured Experts are highlighted in the free investment newsletter, Profit from the Pros. Each issue highlights several Featured Experts in this free e-mail newsletter. Register for a free subscription to "Profit from the Pros" at: http://at.zacks.com/?id=86 About Zacks Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 to compile, analyze, and distribute investment research to both institutional and individual investors. The guiding principle behind Zacks work is the belief that investment experts, such as brokerage analysts and investment newsletter writers, have superior knowledge about how to invest successfully. The goal is to unlock these pros' profitable insights for individual investors hard-pressed to find this valuable information in one source. A free subscription to "Profit from the Pros" weekly e-mail newsletter provides the best way to use these experts' insights for more profitable investing. Register now for a free subscription to the Profit from the Pros newsletter at http://at.zacks.com/?id=87 Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion