Friday, February 27, 2009

Zignals Stock Charts: Three stocks with Insider Buying

Jonathan Moreland at has published a list of 10 stocks showing good insider buying. The Top 3 in reverse order are:

Gentek (GETI) has been bumping along $13 for the past month-and-a-half. Pessimists would see this as a bearish descending triangle so if it can maintain the $13 for another couple of weeks it would negate this pattern. I have made a call for a move back to $20 with a stop on a loss of $13.

Second on the list was Marriot International (MAR). It has spent the past few months struggling to get past a band of resistance running between $21.35 and $22.15. The current decline looks set to test November lows of $11.88. Will it make it? You can use a Zignals Stock Alert to notify you when it does.

Top of the pile was Republic Services (RSG). Unlike Gentek it has spent all of February in a decline, a decline that looks set to test $18.25 support. The stock is good Watchlist material, with a Zignals Stock Alert just above $18.25.

Happy Hunting!

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts, and stock charts website