Trade Ideas for Friday - RMBS, TEVA, RIMM
Research in motion shares were up more than 4% to $106.99, with a strong volume. Stock has been traded within a downward channel since the highs reached in November. At the present moment, the daily chart is printing a weakness momentum for stock; on the other hand, stock has found an important support around $100 mark, so only a close below this support should be view as a new Bearish moment. The top of the channel is currently at $115 and bottom around $85. After today session, I think we'll test the top of the channel soon.
TEVA shares were up just 1% to $44.56 reacting positively in the bottom of the channel. Looking at the daily chart stock continues to move within a rising channel, but directionality is very low. MACD and RSI are now gaining some momentum, so it seems a good time to be Bullish on stock again.
Rambus shares surprised me again. After yesterday drop, stock closed the session in the highs of the day at $20.72. The MACD and RSI look good, although I am a little concerned about the lack of volume on this upswing, regarding the volume on the downturn, but I'm still very confident. My head is telling me to ignore the volume trend because the increased volume on the downswing is normally a sign of capitulation, so stay tuned on RAMBUS, because this could be a good stock to have in your porfolio for the months to come. The time will tell.
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
