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Monday, August 04, 2008 

Stock Picks and Trade Ideas for Tuesday - TRN, ESLR, TTEK, SBUX

Chart courtesy of stockcharts ( click to enlarge )

SBUX - The stock closed below its 20-day simple moving average at $14.49 again. Generally this is a bearish indication. In this new downtrend, the stock may find support at $14 if there is a spurt in volume in the coming sessions. If Starbucks breaks below $14, then we may see this stock going down till $13.33 again. The short-term outlook for the stock is bearish.

Chart courtesy of stockcharts ( click to enlarge )

TTEK - The stock broke resistance with a high volume move on Thursday. Increased volume at the break-out supports the bullish trend. Buy the stock in dips with stop loss at $27.32.

Chart courtesy of stockcharts ( click to enlarge )

ESLR - The stock has formed a descending traingle pattern, which is a bearish pattern. If the pattern breaks the support at $8.45, then in the short term we can see a downward movement till $8.

Chart courtesy of stockcharts ( click to enlarge )

TRN - The stock is facing continuous resistance at $39. The daily technical chart shows positive sign as the stock is now trading above 50 day moving average with KD rising and MACD now above 0. Recent surge may spur profit taking but for the long term the technical is looking good. TRN is one of my favorite stocks on the wind sector.

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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