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Saturday, May 31, 2008 

Hot stocks for next week - COMS, HOLX, SPWR, SOLF, AAPL, RFMD

Chart courtesy of stockcharts ( click to enlarge )

RFMD - The stock broke consolidation resistance with heavy volume. The technical chart shows buyers are back. With the surge today K line is again on top over D line showing the stock is back to new rally. This is what strong stocks generally do in a rebound : break resistance, hold the breakout and continue higher. A move towards $5 can be expected as long as $4 holds. I would like to see at least a move above $4.28 before betting on a pull back.

Chart courtesy of stockcharts ( click to enlarge )

AAPL is getting a battle with resistance at $190. The stock has been consildating for weeks now, and may be ready to clear this base. The Technical chart shows positive sign as the stock has been above 200-day moving average since mid April and has formed golden cross earlier May. Golden cross is when 50 day MA cross on top over 200 MA and is a very bullish buy signal.

Chart courtesy of stockcharts ( click to enlarge )

SOLF breakout !!! The triangle represents a consolidation or rest after an advance. The breakout signals a continuation of the prior advance. Even though I find the breakout bullish, I also find Solar stocks a bit overextended. As long as $21 holds, this breakout is in great shape. A move below $20.80 would question the breakout and further weakness below $20.03 would be outright bearish.

Chart courtesy of stockcharts ( click to enlarge )

SPWR - The daily chart shows possible new rally as K line has crossed on top over D line while ROC is still at oversold level. However it is better to wait and see if the stock can break above 50 day moving average.

Chart courtesy of stockcharts ( click to enlarge )

HOLX - Looking very good but the stock might consolidate in short term.

Chart courtesy of stockcharts ( click to enlarge )

COMS - 3Com Corp is firming just above key support at $2.51 and a triangle has taken shape over the last few weeks. This is a neutral pattern dependent on a break to establish a directional bias. A break below $2.39 would signal a decline and be quite bearish, on the other hans a breakout at $2.60 would be bullish.

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 weekend !!!

AC

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Hi AC!
Thank you for great tips you are offering through your blog and forums.

VF

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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