Michael Wachs CEOCast |
| 7/21/2009 3:34:07 AM |
Shares of Enzo Biochem (NYSE: ENZ) have been one of the best performingstocks on the NYSE the past month, and in the process have clearedsignificant resistance. Helped by strong volume (more than three timesprevious 90-day average) and possible short covering (short interestapproximately 13% of float), shares recently cleared the $14 range,representing chart congestion and significant resistance as far back asNovember. The stock also recently cleared its 200-day moving average,for the first time since mid-2005. The next level of resistance appearsto be in the $15.80-$16 range, which reflects the level of the stock inthe September-October, 2005 time period. Support appears around $14.Shares ended the week at $14.62, down 46 cents.
What should investors look for this week? Keep watch for Fed ChairmanBernanke's semi-annual monetary policy report on Tuesday which hassignificant market moving potential. Earnings reports for the weekbegin with Campbell Soup (NYSE: CPB) reporting before the bell Monday.On Tuesday, look for Daimler (NYSE: DAI), HJ Heinz (NYSE: HNZ), Macy's(NYSE: M) Office Depot (NYSE: ODP) and Pacific Gas & Electric(NYSE: PCG), with First Solar (NASDAQ: FSLR) reporting after the bell.On Wednesday morning, Garmin (NASDAQ: GRMN) is scheduled to report.Cablevision (NYSE: CVC) is expected to report Thursday morning, alongwith General Motors (NYSE: GM), MGM Mirage (NYSE: MGM), Safeway (NYSE:SWY), Sears Holdings and US Cellular (NYSE: USM). AIG (NYSE: AIG)reports after the bell Thursday, as does Dell (NASDAQ: DELL), Gap Inc.(NYSE: GPS), Kohls (NYSE: KSS), and Novell (NASDAQ: NOVL).
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