Stock Picks and Trade Ideas for Tuesday - GOOG, SNDK, TRN, AMD
Chart courtesy of stockcharts ( click to enlarge )GOOG - From a near term perspective the most obvious level to watch is right now the $442 level. The bulls need to push prices above this level to start making some progress. A failure to take out this level in the next sessions is outright bearish and suggesting a test of key support at the $406 level.
AMD ruled weak and also breached the crucial stop-loss level at $5.24 ( 50-day moving average ). The short-term trend has now turned bearish and a drop to Rs $5-5.15 appears likely. Fresh exposures may be avoided. A close below this level could push the stock to $4.50.
Chart courtesy of stockcharts ( click to enlarge )TRN may find support here at the 200 sma. Any close below this level will extend the losses further.
SNDK looks like it started to break down here. The short-term trend has now turned bearish and a drop to $14 appears likely. Keep an eye on the $14 level for signs of support.
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
