XO Group Inc (NYSE:XOXO) on the daily charts saw the stock see a good breakout above the levels of $10.30 on the back of good volumes that are a bullish indicator. The price action on Friday saw the stock close above the resistance level at $10.79 and also pushed XO Group Inc (NYSE:XOXO) above its 50 day moving average. The relative strength index and the momentum indicators are showing first signs of a bullish reversal, and we believe that if the stock remains above its 50 day moving average it can easily scale levels of $11.46 which is its next area of resistance.
Kips Bay Medical, Inc. (NASDAQ:KIPS) on the daily charts has been in a massive downtrend which has seen the stock hit an intraday low of 0.4625 on the back of very high volumes. The stock in Fridays’ session saw relief rally post the massive sell off seen on Thursday. We believe that this price action was nothing more than a dead cat bounce and we should see the downtrend resume in the near term. The momentum indicators for Kips Bay Medical, Inc. (NASDAQ:KIPS) are showing no signs of a bullish reversal which confirms to us that the momentum is strongly at the sides of the bears and traders should use any rally in the stock to go short.
Ameriprise Financial, Inc. (NYSE:AMP) on the daily charts has been in a quiet a good uptrend over the last week and is currently close to the trend line resistance at $111.75. The price action on Friday saw the stock witness selling pressure but found support at lower levels and by the end of the day was able to close near the open of the day. Long legged Doji was seen which tells us that the buyers and seller are undecided with regards to direction of the price action going forward. The momentum indicators showing signs of a bullish momentum and thus makes us believe that if Ameriprise Financial, Inc. (NYSE:AMP) closed above the aforementioned resistance zone we might see higher levels in the near term.
I am not a registered investment advisor and nothing contained in any of the above commenatry should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment.