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Tuesday, November 06, 2007 

Trade Ideas for Wednesday - LVLT and YHOO

Chart courtesy of stockcharts

Shares of Level 3 Communications closed the day in the flat line. Stock traded nearly all day falling +2%, but in the last minutes we saw a strong rally on stock pushing share price from $2.96 to $3.03 in just a few minutes, so the rebound maybe soon. The technical chart above still shows weak sign as 50 day moving average is still below 200 day moving average. The falling MACD also shows the stock may remain weak for a while. However as KD is at low and K line looks like is about to break above D line the upward movement should be near.

Chart courtesy of stockcharts

I closed my long position on YHOO today. The session was really ugly for Bulls. Good news coming from Asia and share price close below $30, no way I'm out !! Looking at the daily chart, MACD fast line back below slow line again, a Bearish signal in short term, so pay attention tomorrow if stock break 20 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 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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