Stocks On The Move - September 19
Stocks Rise on Heavy Volumn:
- Continental Airlines Inc. (CAL): shares of the nation's fifth-largest airline company rose 4.96% to $30.28 per share as oil price dropped below $62 per barrel. The stock is back to bull market rally as MACD is above signal line and K line is on top of D line. In addition with stock now back above 50 day and 200 day MA do expect more upside coming. The stock is the eighth best performer on NYSE today with 4.6 million shares traded.
- Napster Inc.(NAPS): shares of Santa Clara, CA based online music provider surged 12.96% to $4.01 per share on possible sale of the company. The stock is back to bull market as stock is above 50 day and 200 day MA and MACD is back above 0. In addition with K line on top of D line the stock should continue to go higher. The stock was the eighth leading gainer on Nasdaq today with 5.12 million shares traded.
Stocks Drop on Heavy Volumn:
- Cell Therapeutics Inc. (CTIC): shares of Seattle based cancer treatment product maker tumbled 15.87% to $1.75 per shar as the company offered 23 million shares for $1.73 per share. The stock has been on a rally since August on rising KD and MACD back above 0. Today's action put the stock back to 200 day MA and also reverse the KD trend. Watch for few days before make any investment decision on the stock. The stock was the third leading decliner and the tenth heaviest traded on Nasdaq today with 30.48 million shares exchanged hands.
- Yahoo Inc. (YHOO): shares of leading online portal plunged 11.21% to near 52 weeks low of $25.75 per share after the company lowered earning guidance. The stock is now back near the support at $25 per share. At this point it may go either way but if it turns south escape from the stock asap. The stock was the tenth leading decliner and the second heaviest traded on Nasdaq today with 127.7 million shares traded.
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