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Friday, November 02, 2007 

Trade Ideas to analyse during the weekend - BIDU, YHOO, INTC and RIMM

Chart courtesy of stockcharts

BIDU shares were up nearly 6% on Friday closing at a new historical level of $409. Looking at the daily chart, BIDU has had a nice run over the past two months making a nice trend higher. As seen by the chart, BIDU broke out last Friday a tremendous resistance at $360, and this week even with market corrections, the shares have not stopped rising, so now pullbacks in the stock should be valued as buying opportunities. Looking at the technical chart above ( click to enlarge if you want ) the stock shows very strong bullish sign. First of all the stock is trading above both 50 day and 200 day moving average with both moving average pointing upwards. Then the MACD indicator is rising above 0 also indicating a buy. In addition KD line still show the stock is on the positive swing. From a technical perspective stock is trading in a clear Bullish mode.

Chart courtesy of stockcharts

YHOO nice setup today !!!

Everybody knows that I bought a small amount of shares of YHOO in September, when stock broke the downtrend. Since then, I continue increasing my position when any Pull back occurs. I know that most of you don’t like to play in YHOO, however it seems clear that value of the company is increasing day by day, and Alibaba.com must have been one of the best investments already made by this company. Well, Presently, Yahoo owns 39% of Alibaba.com and the stock is poised to IPO at HK$13.50 on Nov 6th ( next Tuesday ), and I’m completely confident in the Chinese aptitude to overvalue Alibaba.com in a question of sessions, which will produce for sure a great value for YHOO, it’s my point of view, so this was one of the major reasons why I entered in stock. At this moment I hold on my position in YHOO.

Interesting article that I found on Smart Money today
"Want a Piece of the Alibaba IPO? Buy Yahoo" - Check this out !!!

Chart courtesy of stockcharts

INTC - The stock is developing a bullish triangle in the daily time frame, so keep an eye on Intel next week for a possible breakout over $27.

Chart courtesy of stockcharts

The technical chart above show RIMM is ready for a possible rally if breakout key resistance level ($128.36) with big volume. Monday keep an eye on RIMM, it seems that a breakout over this mark is likely.

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 weekend !!!

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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