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Thursday, September 11, 2008 

Stock Picks and Trade Ideas for Friday - YHOO, GOOG, EBAY

Chart courtesy of stockcharts ( click to enlarge )

Daily chart is showing that EBAY has been in a downtrend since April. The declining 20-day moving average clearly is showing this. The stock has chance to start new rally as K line is slightly above the D line. However since the stock is still weak as MACD is below 0, if K line fails to stay above D line, the downtrend may continue. We need to see what happen to project the next swing target.

Chart courtesy of stockcharts ( click to enlarge )

Google opened weak and closed strong to form a massive Bullish Engulfing pattern. The chart target is at $461.90. A good entry would be at $420 or below. A drop below $406.38 would however invalidate the set-up.

Chart courtesy of stockcharts ( click to enlarge )

YHOO caught my attention today. The signal to buy was given today when the previous day high at $17.78 was taken out. Although the stock is showing weakness with MACD slightly below 0 and 50 day-moving average still declining, now with K line rising passed D line the stock could probably bounce back up for few sessions.The next resistance is at $18.98, which is exactly the 20-day moving average. If this is broken the next target is the 50-day moving average at $20.37.

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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