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Saturday, June 16, 2007 

Trade Ideas for Monday - INTC, GTW, MON, ADCT

Chart courtesy of stockcharts

Intel shares were up more than 4% on Friday closing at 24.24 after Goldman Sachs raised its rating to "buy" from "neutral". Looking at the chart Intel "INTC" has had a nice run over the past two months and made a nice trend higher. As seen by the chart, Intel breakout during this week a tremendous resistance at 23$, so now pullbacks in the stock should be valued as buying opportunities. I think stock should pullback to $23 ( resistance now becomes support ) per share before making the next move. From a technical perspective stock is trading in a Bull Market with s 50 dma on top of 200 day moving average. Keep an eye on INTC next week.

Chart courtesy of stockcharts

As I had posted here last week a possibility of a rumor in Gateway enter the Chinese market, now the rumor disappeared and became reality. According to the latest news from Gateway and available in financial sites, Gateway Confirms It Is Selling Computers in China " SAN FRANCISCO (AP) -- Gateway Inc. said Friday it has begun selling computers in China as part of a broader effort to increase its sales outside the United States. To enter the Chinese market, Irvine, Calif.-based Gateway said it has tapped China's largest electronics distributor, Digital China Holdings Ltd". Looking at the technical chart, It takes time to build a proper base, but it looks like GTW is close to breakout the downtrend channel as show the chart above, indicators have started to improve, so put this option in the table.

Chart courtesy of stockcharts

I like this chart. It is a bullish chart. MON broke out of an important consolidation area with excellent volume and will likely have the attention of the swing-traders in the next sessions.

Chart courtesy of stockcharts

Next week keep ADCT in your watch list, is close to break out over 19$.

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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