Stock Picks and Trade Ideas for Next week - AAPL, RFMD, SNDK, ESLR, AMD, LDK
LDK - The channel got busted early this month and anything below $35.35 will bring in two lower highs and two lower lows into the set up and that is going to be scary for Bulls. Further, falling MACD and KD, also indicates bearish trend. Looking closely at the moving averages both indicates neutral as the stock is now trading in between 50 day and 200 day moving average. Wait for the confirmation of the trend to follow. Buy point is when the stock breaks $41.44 ( 20 EMA ) and the sell point is when the stock closes below $35.35.
Chart courtesy of stockcharts ( click to enlarge )AMD - We are a few points away from $6.71. So after all, we have two lower highs in the set up, which is a signal of continuation of the down trend. Now $7.25 is the resistance and any bounce towards it must be used to go short. On a short term basis, MACD and KD show bearish sign. The stock is now trading below 20 day moving average, which is generally a bearish indication. Also notice that the RSI is declining and does not paint a good picture for the stock.
Chart courtesy of stockcharts ( click to enlarge )ESLR - Here is a closer look at yesterdays price action showing the failed attempt to stay above $12. A close below $11.50 will bring in further weakness.
SNDK - On Friday Citi analyst Craig A. Ellis lowered his rating on SanDisk to "Hold" from "Buy" and cut his share price target to $27 from $35 late Thursday. The technical chart above shows that it is still to early to say that the downtrend has ended.
Chart courtesy of stockcharts ( click to enlarge )AAPL - The stock closed below its 50- day EMA at $177.24 Friday. There could be downward bias toward $170. There is support at this level and only below here would threaten the downside extending down to the 200- day EMA at $162.07. However, only below this major support would cause a deeper pullback with next support at $144.
RFMD - Not a pretty picture. On short-term basis still in downtrend mode and should find a nice support at $3.20. Keep an eye on that trendline.
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 weekend !!!
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 weekend !!!
AC
Labels: AAPL, AMD, ESLR, LDK, RFMD, SNDK
