Today, the stock market is enjoying a nice green start to the week with many stocks pushing higher – the all boats rise with the tide notion. However, there are numerous stocks that I am watching that are approaching a very key level whether it be a moving average or psychological price level.
One such stock is FIRE (Sourcefire Inc). Here is a look at an Area Daily chart:
As you can see in the chart above, the stock is approaching the $50 price level. I would expect a battle to ensue here for sure but do expect the Bulls to win.