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Thursday, August 16, 2007 

Trades Ideas for Thursday - RMBS,GTW,BIDU

Chart courtesy of stockcharts

RAMBUS shares were down nearly 2% closing at $13.04. Stock is now approaching of major support at $13. Looking at the daily chart, stock is trading in a clear Bearish Market with 50 dma below 200 dma and all indicators also in Bearish territories. In my opinion if stock breakdown $13 in a close, RAMBUS should fall to target $10.25 ( 2006 lows ) before move up again. It's only an opinion based on the chart of long term, nothing more.

Chart courtesy of stockcharts

GTW - Stock may have found a bottom at this level. According to MACD and Full Sto. it seems that share price will move up soon. Keep an eye on GTW for a possible breakout over $1.27.

Chart courtesy of stockcharts

BIDU shares may have found support at 50 dma.

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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