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Wednesday, May 21, 2008 

Stock Picks and Trade Ideas for Thursday - BIDU, CLMT, DAR, MCBI

Chart courtesy of stockcharts ( click to enlarge )

CLMT - This stock has made a very strong vertical move over the last three sessions. The Inside trading is very active, as table below shows. The short-term target is difficult to judge, the stock has made a major breakout in the last two sessions. The long-term target in my opinion is 20-plus. The technical daily chart shows very positive sign as MACD is back above 0 again with stock also back above 20 day moving average. In addition with KD still rising we should see more upside of this stock.

The Inside trading has been amazing over the last days, it suggests that something is going on....

Chart courtesy of stockcharts ( click to enlarge )

BIDU - This stock crossed tits 20-day moving average, generally a bearish signal. It has a good base at $340 which can be used as a stop loss for long position.

Chart courtesy of stockcharts ( click to enlarge )

DAR has formed a nice uptrend channel since December. However everytime it hits the top channel line there is a major correction. DAR now trading at $14.43 has good support at $14 ( bottom of the channel ) but any close below this level could have further negative implications for the stock, and a move to $13.41 cannot be ruled..

Chart courtesy of stockcharts ( click to enlarge )

MCBI - Metrocorp may be forming a descending triangle pattern on the daily bar chart. These triangles are usually bearish. A bearish downside "breakout" from the descending triangle pattern on the daily chart would occur on a solid price move below technical support at the base of the triangle pattern, located at $12. Let's keep an eye on her.

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

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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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