Top picks for Wednesday NVDA, RMBS and ADBE
Chart courtesy of stockchartsShares of Adobe Systems Inc. jumped today more than 1.5% to $43.71 after company topped estimates for the fiscal third quarter and lifted its fourth-quarter sales outlook above Wall Street expectations. The daily chart above is printing a Bullish Pattern, with all indicators appointing for the same direction UP, however something curious happened today, stock have failed to breakout $44.94. Due to this fact and the high volume traded I'm cautions here, I prefer wait for the breakout, before make any investment now. Earnings are good; fundamentals are strong, so this up movement is something natural, not any kind of speculation. I prefer buy stocks with these kind fundamentals, than move in to a stock based on the speculation trend. The technical chart is showing bullish sign as the 50 day moving average has crossed above 200 day moving average over this month. Although MACD is showing some weakness as K line is very near to cross below D line, pay particular attention for this indicator if K cross below D line.
Chart courtesy of stockchartsShares of Nvidia were up today more than 8% to $35 with an unusual volume for stock, trading more 20 million of shares. Looks like NVDA will test previous highs again. Looking at the daily chart NVDA shows positive sign as the stock has been above 50 day moving average since mid April and has formed golden cross in the begin of June. Golden cross is when 50 day MA cross on top over 200 MA and is a very bullish buy signal. Stock has now a resistance at $36 and support $33.21.
Looking at the chart RMBS found a strong resistance at its 200 dma, so probably we can see here some profit taking after recent rally, from $12.05 to $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 evening !!!
AC
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 evening !!!
AC
