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Friday, August 15, 2008 

Stock Picks and Trade Ideas for Friday - RMBS, AAPL, SNDK

Chart courtesy of stockcharts ( click to enlarge )

SNDK shares surged more than 9% to $17.82 after rumours saying that SanDisk is a possible target for Seagate. Here is one of the sources : Engadget.com " Seagate has already made its intentions about jumping into the SSD game pretty clear, and one analyst now says he sees two clear options at the company's disposal if it wants to seriously make a go of it, each of which involve Seagate shelling out a good chunk of cash. According to Lazard's Daniel Amir, one option would be to buy out Intel's 49% stake in the IM Flash Technologies joint venture it has with Micron, which would reportedly cost anywhere from $1 to $2 billion (not to mention put Seagate on the outs with Intel). More likely than that, Amir says, would be an acquisition of or partnership with SanDisk, which he says would be an ideal fit given Seagate's expertise on the enterprise side and SanDisk's retail knowhow. Amir doesn't put a price tag on that option though, but you can be sure it wouldn't be cheap." Things to focus on technical chart above is the spike in volume in late July. It marked the end of the slide and beginning of bottoming. Although both 50 day and 200 day moving averages are falling, the rising KD and MACD show the stock is now in recovery mode. In addition the stock is also back above 20 day moving average showing positive momentum. Let's keep an eye on it.

Chart courtesy of stockcharts ( click to enlarge )

AAPL - The stock might face a period of sideways action while it consolidates the gains booked in the last session. The stock will face short to medium term resistance at $180.91. Once this level is crossed with good volumes, the stock can go to $190.

Chart courtesy of stockcharts ( click to enlarge )

RMBS -This stock is slowly under accumulation based on the Chain Money flow indicator also still showing positive divergences on MACD. Lack of volume, slow movements and this look likes everybody are in the expectation of new developments in the case of Hynix. I’m still beating for good news for Rambus this is the reason why I’m still holding my shares. Over the recent years, August and September has been good months to take long positions in this stock, so probably I will increase more my position believing that Rambus will win this case. Please be aware that Rambus is the kind of stock that the share price depends in part of the news that comes to the market, causing generally large fluctuations in the share, so be careful if you’re not familiar with the stock. I own Rambus shares.

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 !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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