Stock to watch Thursday - RIMM, TXN, RFMD, XMSR and SIRI
Hello Friends,
I am back from my short break that eased some of my stress and tension of the last trading days. Well, today I will start by analyze the stocks in spotlight in today session, like TXN, XMSR and RFMD.
Chart courtesy of stockchartsThis stock is sitting right around its 200 daily moving average. This stock has some support around the $82 range. Keep an eye on RIMM for a possible breakout over $91.
Chart courtesy of stockchartsXMSR showed up on a momentum scan and it looks like it wants to push higher after all this consolidation to break through its downtrend line. This move up could be supported by the possibility merger between XMSR-SIRI that has been since a long time discussed, but that should be approved by DoJ and FCC soon. MACD fast line just crossed on top over Slow line again, showing that a possible rally is about to begin, however wait for a confirmation. Stay tuned on XMSR and SIRI.
On Tuesday after market close, Texas Instruments announced its Q4 results. Company said that its fourth-quarter profits rose 13 percent and sales reversed a yearlong decline. The company posted net income of $756 million, or 54 cents per share, including a penny per share from a tax gain in the fourth quarter. That compared with $668 million, or 45 cents per share, a year earlier. Looking at the daily chart, stock has broken its downtrend line finally, that has been in place since mid December. Let's see if it could have a follow through tomorrow. Major resistance is now at $30.65.
RF Micro Devices shares caught my attention in the last trading sessions. Stock took a big drop since December levels, and is presently trading at levels very lows. It's hard to believe, but share price is now 50% cheaper than was in December and trading in extreme oversold conditions. Anything becomes possible when you reach these levels of oversold, you can see a tremendous spike in stock price or just continue seeing this movement to the downside. I would keep a close eye on the stock to see whether it bounces from this level. If it starts to move above $3 with strong volume, that will be an indication of a bounce. Keep RFMD in your watchlist.
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
Labels: RFMD, RIMM, SIRI, TXN, XMSR
