Stock Picks and Trade Ideas for Thursday - SNCR, GOOG, SBUX, TRN
Chart courtesy of stockcharts ( click to enlarge )TRN - Just to follow up on my earlier postings, it looks like Trinity Industries is setting up nicely for a pullback swing trade. This would be a good opportunity to add to our position. A potential re-entry point would be on take-out of high at $33.9. It looks well supported at $32 - the last swing target, which was taken out decisively on Thursday and now serves as the support.The resistance now is at $34.70 which if taken out could lead to more new highs. We need to see what happen to project the next swing target. TRN is also one of the favourite stocks of Cramer. Cramer said that the U.S. is facing a shortage of supply of windmills. "Everybody who's involved in making them, it's a win still," Cramer said. He recommended Quanta Services and Trinity Industries as plays on his thesis. Buy wind stocks, Jim Cramer said on CNBC's "Stop Trading!" segment Wednesday.
Chart courtesy of stockcharts ( click to enlarge )SBUX - The daily chart above shows that it is still to early to say that the downtrend has ended.
Chart courtesy of stockcharts ( click to enlarge )GOOG is setting up again for a potential pullback swing trade. The daily chart shows stock should correct to its 200-day MA line.
SNCR - Synchronoss Technologies, which makes software for communication service providers, saw its stock plunge 43% today after gave a weak current-quarter forecast and reported lower-than-expected results, due in part to declining revenue associated with Apple Inc's iPhone. In addition, company also said Tuesday its board approved a plan to buy back $25 million in stock. Technically not a pretty picture, in downtrend mode. The stock needs to stabilize the price to get in for a turnaround.
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 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 nice day !!!
AC
