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Tuesday, August 12, 2008 

Stock Picks and Trade Ideas for Wednesday - TSRA, FSLR

Chart courtesy of stockcharts ( click to enlarge )

FSLR - With MACD below 0 the stock is still in bear market so wait until the stock reverse back to uptrend before you buy the stock. For now the stock is holding the 200 DMA and the horizontal trendline as well. Hold with a stop-loss at $243.03. If stock breaks this level then the stock can head to $234 and if this level is breached then the level of $225 is visible. Stay tuned on it.

Chart courtesy of stockcharts ( click to enlarge )

TSRA - The stock broke resistance with good volume over the last few days. Tessera has now a strong resistance at $24.72. If the stock is unable to cross this level, then it might decline to $21.47. If this level is crossed and sustain above it, then it may go to $27.09 ( 200 DMA ). However, I would like to point out that TSRA is now in Overbought zone and hence the chances of a short-term pause or decline are on the higher side.

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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