Trade Ideas for Friday - BIDU, RFMD, CNXT, ADCT
Chart courtesy of stockchartsADCT - The stock should pause around its resistance of $15 after recent rally in share price, however chart is now more Bullish than was before. The recent action in ADCT is very promising. Last week the stock aggressively moved off its lows of $12.63 to rally nearly to $15 on respectable volume, so keep an eye for a possible breakout over $15 too.
Chart courtesy of stockchartsCNXT looks like it is getting ready to move. The stock broke through its 20-day moving average on today session, this was the first signal that I was looking for since a while. Looking at the daily chart, Conexant looks very good here, especially if market attempts a rally again.
Chart courtesy of stockchartsRFMD is a stock to watch closely tomorrow. Company announced that its Board of Directors has authorized the repurchase of up to $150 million of its outstanding common stock over the next 24 months. On the other hand company also reported its earnings, RF Micro Devices swung to a loss in its fiscal third quarter, and said results in the current quarter will lower as excess inventory of cell phone chips weigh the company down. A mixed bag. Techinally, stock bounced back from recent lows, and chart is now showing some signals of improvement through some indicators, like MACD and RSI. I like the way the stock bounced back from the share consolidation activity, and it may be time to believe in stock again. I like the repurchase program, especially considering the actual market capitalization of stock. Wait for tomorrow reaction.
BIDU shares surged today gaining nearly 8% to $279.95. Stock has refused to go down in $250 area. By looking at the chart, you can see that the stock has found a strong support level around the $248-250 range, on its 200 day moving average. So, after today rally, It looks like bidu has found some buyers to test its downtrend at line around $310 as is mentioned in the chart.
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
Labels: ADCT, BIDU, CNXT, RFMD
Hi AC great reviews.
I follow your advice and bought CNXT a few days ago but I'm thinking on buying 7.500 more tomorrow.
I was never interested in RFMD till now. I will watch it real closely also.
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Anonymous |
11:03 PM