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MidnightTrader’s Opening Bell Momentum Stocks

  • by MidnightTrader.com
    March 17, 2010 - 9:18 am EDT
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09:18 AM Eastern Daylight Time, 03/17/2010 (MidnightTrader) –

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UPSIDE MOVERS

MGM Mirage (MGM): Stock is dropping steadily off its pre-market high of 12.69, swinging back to still upside levels surrounding 12.50. Buyers were most active earlier today at lower levels between 12.31 and 12.41, an area where a potential floor support could form for longs to eye.

LSI Corp. (LSI): Stock is maintaining an upside range of 5.98 to a high of 6.11 through the bulk of its pre-bell trade. The 5.98 to 6.02 range has developed as a tentative near-term floor level, a range for longs to watch that could perhaps see bumps back to 6.04, or above.

DOWNSIDE MOVERS

FUQI International (FUQI): Stock is getting hammered by heavy sell momentum late in the pre-market, diving to fresh session lows at 12.71. The 13.40 to 13.10 area was a steady ceiling through most of the second-half of pre-market trade before the latest round of selling dropped it to the new lows. If the stock should see an upside pop out of the open, shorts may want to watch for a possible top to form near the 13.40 to 13.10 range.

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