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Monday, September 22, 2008 

Stock Picks and Trade Ideas for Tuesday - JAS, JAVA, AAPL, LDK, XOM

Chart courtesy of stockcharts ( click to enlarge )

XOM - The overall outlook for the stock appears bullish. Only a close below $78.71 ( 50-day moving average ) would negate the bullish outlook for the stock. A close above $82 would reinstate short-term bullish trend that could propel the stock to the next target zone of $84.33-85.47. Technicals are bullish ( MACD , KD , RSI ) signaling sideways to higher prices in the near term.

Chart courtesy of stockcharts ( click to enlarge )

LDK closed lower on Monday however posted a smart recovery off the lows. Technicals are now in oversold territory signaling sideways to lower prices in the near term. At this point, a drop below $37.65 ( 200-day moving average ) would impart bearish trend. Bulls could remain invested with a stop loss at $37.50.

Chart courtesy of stockcharts ( click to enlarge )

AAPL closed sharply lower on Monday to $131.05 as the decline continues. The low-range close sets the stage for a steady to lower opening on Tuesday. Technicals are oversold but remain neutral to bearish signaling sideways to lower prices are possible in the near term. Next support for the stock is $127 and $120.68 levels. Only a close above $144.20 will reverse the current downtrend.

Chart courtesy of stockcharts ( click to enlarge )

JAVA - The near-term trend is bearish and the drop below $8.32 confirmed the weak outlook. $7.56 is a crucial level. Breakdown will result in a greater fall.

Chart courtesy of stockcharts ( click to enlarge )

JAS is forming a rising wedge (bearish pattern) on daily chart with a likely target of around $20. It will be interesting to see if market touches $26 or perhaps even $27 in the coming days before a good fall. For now, be cautious on all up moves and keep a close eye on the wedge. The moment the wedge is broken, expect good correction.

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 !!!

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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