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Thursday, September 27, 2007 

Trade Ideas for Thursday - CVS,NVDA,ADSK

Chart courtesy of stockcharts

CVS stock has broken out to all time highs during today session at $39.80, however in the final hour stock retracted closing below $39.37, previous high. Overall inidicators are still in Bullishs areas. Let's see if tomorrow stock will confirm intraday breakout. Support at : $38 and Resistance at :$39.37.

Chart courtesy of stockcharts

NVidia "NVDA" shares were up nearly 2.5% to a new 52 week high at $36.67, breaking out an important resistance at $36. StoCk is now in a breakout mode and the chart suggests a strong confidence in NVDA stock, no resistances above and RSI has more space to move up.

Chart courtesy of stockcharts

ADSK also hit a new 52 week high and held up very well within this uptrend channel. The uptrend channel marked by the white parallel lines defines the new uptrend started in August. Overall chart looks Bullish. Resistance : $50.55 and Support is at $48.50.

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

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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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