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Tuesday, August 26, 2008 

Stock Picks and Trade Ideas for Wednesday - RMBS, TRN, SOLF, LDK

Chart courtesy of stockcharts ( click to enlarge )

LDK gapped up off support in early August and continued higher with expanding volume. Look for a break above $50.95 to revive the bull.

Chart courtesy of stockcharts ( click to enlarge )

SOLF remains in a clear uptrend, but there were four days of high volume selling pressure and this stock is way overextended. After two weeks of consecutive up days sell divergences have emerged. Expect pullback to $17.37.

Chart courtesy of stockcharts ( click to enlarge )

TRN formed a falling wedge back to the middle of the prior consolidation. If this stock breaks out above $35.32 its very probable that we will see a decent upside move for the bulls.

Chart courtesy of stockcharts ( click to enlarge )

RMBS - Stock broke resistance at $17 with a big move on a big volume. This is not the first up day on big volume either. For now, expect an initial run up to the early July $18.13 high.

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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