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Monday, August 25, 2008 

Stock Picks and Trade Ideas for Tuesday - KLAC, SSCC, AAPL, RMBS

Chart courtesy of stockcharts ( click to enlarge )

RMBS - The stock looks like is close to attempting another breakout. Although the stock didn't perform well this year, we start to see now some signals of rebound as the technical chart shows positive momentum is back. RSI has crossed over 50 ->short term bullish. Positive money flow index is confirming the upside movement. The stock is also back above 20 day moving average showing positive momentum. Although both 50 day and 200 day moving averages are falling, the rising KD shows the stock is probably now in recovery mode. Stay tuned on it.

Chart courtesy of stockcharts ( click to enlarge )

AAPL - The stock may find resistance at $176.23 while its 50-day moving average of $170.28 might act as the potential support level. There is something also important to point out in the chart above, the volume is daily decreasing which could mean that the current trend will probably not continue and a reversal may be imminent. Stay tuned on Apple.

Chart courtesy of stockcharts ( click to enlarge )

Technically, SSCC shows a downward channel trend for the last 9 months. The bottom of the channel is around $3. The chart shows the stock is in a bear market as it is way below of 200 day moving average and trading below its 20 and 50 day moving averages. In addition, since MACD is in negative territory as it has dropped below 0 this is not the time yet to buy the stock for long. Only a break above $5.52 would reinstate bullishness.

Chart courtesy of stockcharts ( click to enlarge )

KLAC - This stock is holding up nicely above the key support of $38.98 ( 50 EMA ) in this weak market environment. Short-term investors can hold the stock as long as it trades above this support with a stop at $38.98. Long-term investors can keep a deeper stop at $36.80.

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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