Trade Ideas for Tuesday morning - RIMM and Valero
Chart courtesy of stockchartsValero shares were down just 0.20% to $69.42 reacting positively in the bottom of the channel. today Looking at the daily chart stock continues to move within a rising channel, but directionality is very low. MACD and RSI still losing some ground, so we must wait for a confirmation before enter long here.
Research in Motion has broken out to all time highs during today session to a new 52 week high at $131.47, however in the final hour stock retracted closing at $127.97. Looking at the daily chart, the stock is still in the bull market as the stock is trading above both 50 day and 200 day moving average and MACD signal line still above 0. Another indicator KD line shows the stock may be on a new rally again as K line is about to cross on top over D line. As we can see above overall indicators are still sowing a Bullish momentum on stock, so let's see if tomorrow stock will confirm intraday breakout. Support at $118.44 and Resistance at $131.47. Keep an eye on RIMM tomorrow morning.
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
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Posted by
Zoli |
9:02 PM