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Thursday, August 23, 2007 

Top picks for Thursday - CAVM and JDS Uniphase

Chart courtesy of stockcharts

Shares of JDS Uniphase will be in focus tomorrow after company said Wednesday its fiscal 2007 fourth-quarter loss narrowed, helped by improved results from sales of communications and test measurement products. JDS Uniphase lost $17.9 million, or 8 cents per share, in the quarter ended June 30, compared with a loss of $45.8 million, or 22 cents per share, during the same period a year prior. Revenue rose to $350.7 million from $318.2 million. Looking at the technical chart stock is moving within a negatively inclined channel since May of 2006. At this moment, it is testing the 50 dma as resistance area. In after hours stock is trading up more than 3% so pay attention tomorrow for a possible breakout of the upper trend line at $15.50. I'll be Bullish on stock only if it breakout this trend.

Chart courtesy of stockcharts

Calvium Network shares were down nearly 2% today closing at $29.92. CAVM looks like it broke out of a tight consolidation and is now pulling back to test the breakout area as support.

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 example.

That's All. Have a great evening !!!

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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