Trade Idea for Tuesday - GOOG, MEDX , FSLR
GOOG - The stock closed below its 200-day moving average of $570. The next level of interest to watch on the downside is recent support around $550. Looking at the daily chart, stock is trading below major moving averages. In addition MACD is below 0 and RSI below 50 showing the stock is in bear market. The only positive indicator is KD, where K line is on top of D line which could mean that the selling pressure is decreasing.
Chart courtesy of stockchartsFSLR - First Solar ended the session with a strong gain, + $5.72 per share to $177. This stock has formed a symmetrical triangle pattern in the chart above. Theory is, when price breaks outside of the pattern and if accompanied by increasing volume, there is a high probability that the future price will trend in the direction of the breakout. Keep an eye on her, because the breakout will occur soon.
Chart courtesy of stockchartsMEDX - Medatex has been trading in a downtrend channel over the last 6 months. In my point of view, there is no need to rush out to buy Medarex shares. Stock needs to break out and close above the $10 neckline resistance point, on higher than average volume.
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 great 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 great evening !!!
AC
