Trade Ideas for Wednesday - Yahoo, Google, Bidu
Some readers sent me some emails a few days ago questioning me, why I still put YAHOO in my portfolio as a top pick. Well, the answer is simple: If you remember I gave you the first alert when stock broke out the downtrend line at $24, since then stock don’t stop, moving in a nice uptrend until nowadays. For me, there are some factors that are contributing for the increase in the investor confidence in this particular stock : 1- Speculation behind Alibaba.com IPO (Yahoo! Inc. holds a 39 percent stake in Alibaba.com and want more ), Alibaba.com is one of China's fastest growing Internet companies. It has seen its registered members soar from 6 million in 2004 to 24.6 million in 2007. Paying members increased from 77,000 in 2004 to 255,000 by June 2007. The shares start trading Nov. 6. 2 - First sign given by CEO that company is ready to battle again for its position in the market of Ads. 3- Good business environment in the Internet Sector (On Thursday Google proved that). All these factors together, contribute for my optimistic feeling. Technically speaking YHOO has been on a non-stop rally since announcing earnings results and the attention grabbing Alibaba.com IPO. The technical chart shows the stock is ready for major rally as 50 day moving average is approaching to crossover 200 day moving average to form Goldnen Cross, a very bullish signal. Let' see .....you will win this batlle Bulls or Bears. Sorry Shorts I'm Bullish on this baby for the long run !!!!
Breakout alert !!!
Shares of GOOG were up 3.8% today to $675.77 and reaching during the session a new 52 week high at $677.60. Google is one of the hottest stocks in the market right now after the earnings report. Looking at the technical chart, stock show a continuation of the trend with MACD and RSI in the Bullish areas, the stock is in a strong bull market with both 50 day and 200 day moving average going up. The momentum in the last 5 sessions have been phenomenal on Google, stock came from $611 to above $675 in just a few days. I won't be surprise if GOOG reachs new highs tomorrow, because indicators are extremely Bullishs. Keep an eye on her.
BIDU shares were up today more than 10% to $349.90. It looks like new highs will come !!!
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
