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Stocks To Watch This Week

|Includes: COST, Joy Global Inc. (JOY), SPY, XXIA
IXIA (NASDAQ:XXIA)  is a leading provider of converged test systems and services for wireless and wired infrastructures and services. This stock made a new 52 week high last week on a surge in volume. When a stock breaks out with volume after consolidation this is a sign of near term strength. The next important resistance levels for the stock will be at $19.50, $21.50, and $23.25. Each of these levels could be pullback areas for the stock. Should the stock pullback or decline there will be strong short term daily support around the $16.00 level. The weekly support area is around $14.50. 

Joy Global Inc. (NASDAQ:JOYG) is a leading manufacturer  of mining equipment for the extraction of coal, copper, iron ore, oil sands, and other minerals worldwide. This stock surged higher last week after reporting earnings. The stock is trading at a new 52 week high and remains in an uptrend. However, resistance levels are now starting to come into play. Currently the $85.50 is a short term daily chart resistance level and the stock has paused in this area. The June 2008 high resistance area is also quickly approaching around the $90.00 level. This is another area where the stock could stall out or even pullback. The $95.75, and $100.00 levels will be the next important resistance areas should the stock continue to rally. Should Joy Global pullback or decline the stock will have strong daily chart support around the $80.00. The weekly chart support area is around the $74.00 level.  

Costco Wholesale Corporation (NASDAQ:COST) is a leading retail store that operates and has location worldwide. The stock rallied again this past week to a new high for 2010. The weekly chart is now getting a bit extended and important resistance levels will come into play shortly. There will be resistance at the $73.50, $77.00, and $81.00 levels. Each resistance point could see pullbacks. Please remember that many retail stocks usually rally higher during the holiday season. However, after early to mid-January many leading retail stocks have a tendency to cool off a bit and pullback. Just look at a chart of Costco last January and also in January 2009 and you will see this to be the case.

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