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Saturday, June 23, 2007 

Trade Ideas for Monday - APLX, CIEN, EMC, SBUX

Chart courtesy of stockcharts

Shares of Starbucks down again on Friday after company warned that a spike in dairy costs may hinder its ability to hit the high end of its fiscal 2007 earnings outlook. Following this warning, Friedman Billings Ramsey analyst Ashley R. Woodruff lowered her rating on the stock to "Market Perform" from "Outperform," expecting the stock price to remain stuck without improvement in same-store sales later this year. Looking at the daily chart, stock still printing a very bearish pattern. The decline in share price started in middle of November of 2006 after to have reached the 40$ mark, since that date the selling pressure increased dramatically pushing the stock over these months from 40$ to 28$ per share. On the begin of June stock breakdown the major support of 28$, and since that Bears have dominated the control of stock as are showing the indicators, MACD below 0 , RSI below 30 and CCI below -100, all of them in bearish territory. I In addiction 20/50/200 daily moving average are still going down. Due to the fact that stock is in extremely oversold conditions a bounce in stock will occur naturally soon. But I still away from this stock.

Chart courtesy of stockcharts

On the other hand, CIEN chart looks great, however Friday session in my opnion was only a small pull back after recent rallies. Thechnically chart looks Bullish, with both 50 dma 200 dma going up and MACD on top of 0. In addiction with K line back above D line we should see the stock continue to go up.

Chart courtesy of stockcharts

EMC with a Bullish chart. Uptrend still intact, keep an eye on EMC Monday for a possible breakout over 18.15$.

Chart courtesy of stockcharts

APLX may be ready to break !!
Looking at the chart stock has had a nice run over the past few months. Keep an eye on stock Monday for a possible breakout over 16.83$. I'll be Bullish in this stock if breakout this area.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice Weekend !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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