Stock Ideas for Next Week - MSFT, NVDA, CIEN
CIEN - The technical indicators are looking better for the stock. The stock has been on a rise recently as K line is on top of D line indicating a buy signal.MACD suggesting that CIEN downtrend could be coming to an end. A breakout above the symmetrical triangle line and the 20-day moving average on the daily chart would confirm this. It does not necessarily mean that CIEN trend would change from down to Up but it could be the start of a base building period. The symmetrical triangle is a pattern in which two trendlines converge toward each other. This pattern is neutral in that a breakout to the upside or downside is a confirmation of a trend in that direction. Stay tuned on it.
Chart courtesy of stockcharts ( click to enlarge )NVDA - Over the last 52 weeks the stock has ranged from a low of $8.80 to a high of $39.67. NVIDIA stock has been showing support around $10.74 and resistance in the $12.10 range. Technicals have turned bullish signaling sideways to higher prices possible in the near term. Next target for the stock are 11.94 and 14.12. Only a close above 11.77 reverses the current downtrend. Let's keep an eye on it.
MSFT is up against the downtrendline. Are the technical signs suggesting that MSFT is about to break out of its congestion area? I think so. Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. A decisive break of the downtrend line on heavy volume, and, we could be looking at MSFT testing its resistance level at $28.40 and $28.77 respectively.
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 Monday !!! Have a great weekend !!
AC
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 Monday !!! Have a great weekend !!
AC
