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Thursday, July 17, 2008 

Stock Picks and Trade Ideas for Thursday - BRCM, CSCO, RMBS, FSLR

Chart courtesy of stockcharts ( click to enlarge )

FSLR has had a hard time with resistance here, but may be ready to move higher. The level which the stock may have trouble moving above, is today at $292.88. It would need to break above that level to run to $317. The technical chart shows the stock is rising as K line is on top over D line showing buy signal. However unless the stock can break above $292.88, don't expect too much going from the stock.

Chart courtesy of stockcharts ( click to enlarge )

CSCO - On a technical basis the stock is still in a downtrend despite the pop in price on today's session. Resistance, the level at which a stock may have trouble moving above, is today at $21.33 (high so far today), then at $21.50 and then the upper limit of the current bearish channel which is today at $21.65. It would need to break above that level to change the bearish trend.

Chart courtesy of stockcharts ( click to enlarge )

BRCM has consolidated around 25-29.50 for the last two months and a break above 29.75 on heavy volume would be bullish. The technical chart above shows positive sign as stock has been trading above 50 and 200 day moving averages. In addition with MACD above 0 and KD going up the stock is probably ready for a new rally. Stay tuned.

Chart courtesy of stockcharts ( click to enlarge )

RMBS is starting to show signs of accumulation with upside days and low downside days. Looks like Rambus confirmed support here and may get a bounce.

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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