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Tuesday, June 24, 2008 

Trade Ideas for today session - FSLR, RFMD, AMZN

Chart courtesy of stockcharts ( click to enlarge )

AMZN has been trading within a medium-term rising wedge formation. The prices keep forming it, and being bound by it. Soon they'll break one way or the other.

Chart courtesy of stockcharts ( click to enlarge )

A head and shoulders formation is easily visible on the RFMD chart, with the top of the head coming in at the recent high of $4.27 and the neckline at around $3.20. That neckline was broken yesterday, and wiht a possible negative tendency in the stock market today, this could be set for lower levels still. Sell around $3.2 with a stop at $3.37 and a target of $3.

Chart courtesy of stockcharts ( click to enlarge )

FSLR shares rose yesterday, boosted by an upgrade at Lehman Brothers. In a client note Monday, analyst Vishal Shah raised his price target to $335 from $280, implying an expected return of 25 percent over Friday's close of $268.22. Looking at the technical chart, If FSLR can break through $288.38, we should see a strong follow through move. Keep watching FSLR for a bigger move soon.


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. See you later !!!

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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