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Monday, June 02, 2008 

Stock Picks and Trade Ideas for Tuesday - GMXR, ABMD, ESLR, AKNS

Chart courtesy of stockcharts ( click to enlarge )

AKNS looks like is consolidating between $7 and $6.4. It has formed a symmetrical triangle with resistance at $7. Possible upside target price of $8. For those doing range trading, you can buy at $6.50, sell at $7, cutloss at $6.25. Although the moving average still shows weakness as 50 day moving average is below 200 day moving average, positive momentum seems to be back as MACD in early to mid May top out the signal line and K line is also rising on top of D line showing buy signal. Average volume is around 1M, a good break out volume should be above 2M.

Chart courtesy of stockcharts ( click to enlarge )

ESLR Consolidation ? Volume reducing on the way down. The long term trend is neutral as the stock is currently trading between 50 day and 200 day moving average. Evergreen Solar looks like it has more support then resistance here. Keep an eye on it.

Chart courtesy of stockcharts ( click to enlarge )

ABMD looks good here and has room to run. The stock firmed around $15 and then broke out with heavy volume. Long term uptrend. The daily technical chart shows the stock is in a strong bull market as MACD is on top over signal line and K line is on top over D line.

Chart courtesy of stockcharts ( click to enlarge )

GMXR showed some nice strength in the last two sessions with markets falling apart and them breaking to new highs.

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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What do you think of VPHM? Is it ready to break the resistence around 10-10.15?

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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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