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Wednesday, August 20, 2008 

Stock Picks and Trade Ideas for Thursday - JDSU, LVS, CREE, NVDA

Chart courtesy of stockcharts ( click to enlarge )

NVDA has a Bullish looking stock chart, price broke out from the horizontal resistance mark around $13/share Tuesday on a respectable volume in the face of a collapsing market. This breakout suggests a possible move to fill the gap in the low $18. However there is a strong resistance to break before move to $18 zone, the 50-day moving average at $14.36. Stay tuned on it.

Chart courtesy of stockcharts ( click to enlarge )

CREE - The stock pulled back to the bottom of the breakout zone before confirming support today.The stock is losing momentum and volumes are also extremely thin. Consider buying when the stock reverses from this support level.

Chart courtesy of stockcharts ( click to enlarge )

LVS has good support at $41.27. If it falls below this level, then it can possibly go down to $36. The technical daily chart shows the stock is still weak as it is still trading below 50 day and 200 day moving average while K line is falling below D line.

Chart courtesy of stockcharts ( click to enlarge )

JDSU is displaying upside momentum and is poised to move higher from these levels. Expect an initial run up to its 200-day moving average at $12.41.

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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Hi AC,
after our discussion yesterday about JDSU, I have decided to buy 500.
Today I just won 3%.
Probably tomorrow I will buy some more.

Thanks for the tip.

Hi Muek,

Be careful friend. My analysis as you know, was made before the earnings report. I will not expect such poor results from JDSU. So, be careful...

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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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