Stock Picks and Trade Ideas for this week - JAG, AMLN, ESLR, AAPL, GOOG
Chart courtesy of stockcharts ( click to enlarge )
GOOG has broken above its downtrend line in May at the $450 level. Since then, the share has been trading very well giving a lot of confidence to investors. Currently, GOOG appears to be in an ascending triangle, with breakout at $590. Its recent high was $602 recorded on May 3. The share has been pressing against the breakout level for the past few days. I think a good entry level will be somewhere between $550~$545. Now that the stock is above 50 day MA and MACD is almost back above 0 the stock has chance to be back to bull market rally. KD also show strong sign as K line is still on top of D line. Let's keep an eye on it.
AAPL - Aaple has rallied strongly off of the February Lows. The stock pulled back across the range of the uptrend channel in December. The move looks correctional and the stock is already back on the offensive. The chart shows very strong upward momentum as the stock is above the 50 day moving average with both 50 day and 200 day moving average going up. In addition KD also show very bullish sign. If AAPL can break through May’s high of $192.24, the stock should make a strong upside move to $200.
Chart courtesy of stockcharts ( click to enlarge )ESLR - Falling wedge finally broken. This means bullish pattern with possible reversal. The stock needs to breakout over resistance at $10 to regain the offensive and start a new uptrend.
AMLN - This stock formed an ascending triangle pattern since April. The buy point is when price clears the upper trend line and volume expands to take the stock higher, on the other hand a break below the support at $29.50, could result a selling pressure and price may fall to $29 levels and below.
JAG - The daily technical chart shows a head & shoulders pattern. This formation shows distribution and suggests that the bears are starting to gain momentum. A breakdown below $8.57 would confirm the pattern and suggest the stock is ready to move lower.
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 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 nice evening !!!
AC
Labels: AAPL, AMLN, ESLR, GOOG, JAG
