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Thursday, July 31, 2008 

Stock Picks and Trade Ideas for Friday - YHOO, JDSU, RIMM, QCOM

Chart courtesy of stockcharts ( click to enlarge )

QCOM is one of the hottest stocks in the market right now. The stock is looking good and looks set to break into new highs, but if prices pullback, the $54 level is a possible area for them to be supported at. All indicators still point to a bull market. The technical daily chart above shows the stock is now in a very strong upward momentum as both 50 day and 200 day moving averages are going up along with the stock. MACD and KD also shows the stock is currently in a bull market. For now the trend is still up.

Chart courtesy of stockcharts ( click to enlarge )

Very bullish action on RIMM this week. The stock firmed around 112-119 and then broke out with three days of high volume. Further strength above $126.45 ( 50 dma ) opens the door to $140. Put her on your radar.

Chart courtesy of stockcharts ( click to enlarge )

JDSU reversed at the down-trend line and looks to be heading down towards support ($10.60-$10.80 range). Also keep an alert on the upside at the down-trend line ($11.30-$11.35 area).

Chart courtesy of stockcharts ( click to enlarge )

One of the most important days for Yahoo shareholders is coming. On 1st of August there is an Annual Shareholders meeting which also includes a vote for the new Board. Finally it comes the time where shareholders will be able to decide if they want to elect Icahn's board or stay with the current Yahoo board. This day definetively will mark the future of the company and the whole strategies behind a possible Microsoft deal. As I mentioned several times here, Microsoft is constantly losing a lot of money with its online services and if they are really interested to gain the scale necessary to compete with Google, Yahoo is without no doubt the best option for company, is profitable, something that Microsoft knows. Remember, if there is no deal with Yahoo, Microsoft will need many years to revamp its online services while Google continues to grow, and I don’t think the Microsoft Chief Executive Officer Steve Ballmer is able to lose so much time. Keep in mind : The Deal Isn’t Dead !!! Frankly speaking I also think the Yahoo's deal failure is priced into the stock at current levels.

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 Tomorrow !!!

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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