Stock Picks and Trade Ideas for Wednesday - ELN, LXK, NTRI, RMBS
Rambus was in focus today after has scored another legal victory in its long-running battle to collect millions of dollars in royalties on its patented designs for computer memory chips. A federal appeals court ruled Tuesday that the Federal Trade Commission didn't offer enough evidence in accusing the company of engaging in monopolistic behavior. This is GREAT !!! Looking at the daily chart above it shows this is the time to place your bet here as many technical indicators show buy signal. Although MACD is a little big weak, any rally should easily bring it back to bull market. Another one KD show buy signal as K line is again on top of D line. The stock has been back on uptrend since early March and now with stock back above 50 day and 200 day moving average and K line rose back above D line we will probably see more positive thing happening to the stock.
Latest News on RAMBUS : IBM licenses Rambus cell , Click here to know more.
Latest News on RAMBUS : IBM licenses Rambus cell , Click here to know more.
ELN is moving in a nice upward channel pattern, near the top of the channel, which could be a good time to close some long positions. Nevertheless, The technical chart looks really positive as 20 day moving average has just crossed on top of 50 and 200-day moving average. In addition with MACD on top of 0 showing bull market and KD at high level the stock should kept going for now. Keep an eye on her.
NTRI - They have broken up here and present a nice buying opportunity anywhere near 20, but they report earnings tomorrow. I hate holding stocks over earnings, but this looks like a nice chart. According to the chart above buyers remain in control.
LXK - Lexmark shares fell today as investors digested the weak 2nd-quarter outlook. Looking at the daily chart, the stock broke its uptrend line and K has crossed below D line, both bearish signals. Nevertheless, the stock could find some support here near of its major moving averages, but the trend is now in favor of Shorts. Let's keep an eye on it.
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 day !!!
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 day !!!
AC
