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Monday, July 28, 2008 

Stock Picks and Trade Ideas for Tuesday - AKNS,TTEK,SIRI, RFMD,SOHU

Chart courtesy of stockcharts ( click to enlarge )

SOHU has good support at $75.83. If it falls below this level, then it can possibly go down to $67 area. Looking at the daily chart, it shows positive signs as 50 day moving average is on top of 200 day moving average with stock trading above both moving averages. MACD also show bullish signal as MACD is above signal line. However ROC and KD are somehow weak as ROC is at overbuy level and K line drops below D line. So, the perfect buy point is now a move above $85 on above average volume.

Chart courtesy of stockcharts ( click to enlarge )

TTEK - Support for Treta Tech exists at $24 and if this support is also broken than the stock is going to touch the level of $22.

Chart courtesy of stockcharts ( click to enlarge )

RFMD - RF Micro Devices will face the resistance on upside at $3 and on the lower side stock will face support at $2.80 and if this level is broken than the stock is in bearish grip and may achieve $2.6 target. Stock has immediate target of $2.80 on downside and if this level is broken then support exists at $2.52 and if this support is also broken then get ready for unbelievable target of $2.

Chart courtesy of stockcharts ( click to enlarge )

SIRI - If its support of $1.80 is broken on a close basis then the chances of stock touching the level of $1.50 becomes high.

Chart courtesy of stockcharts ( click to enlarge )

AKNS - The stock has a strong support at $4.30. Hold with a stop-loss at $4.30. If stock breaks this level then the stock can head to $4 and if this level is breached then the level of $3 is visible.

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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