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Wednesday, September 03, 2008 

Stock Picks and Trade Ideas for Thursday -MRVL, GOOG, RMBS, MSFT

Chart courtesy of stockcharts ( click to enlarge )

The stock surged in early August and broke falling wedge resistance with good volume. The decline over the last few weeks occurred on lower volume and the stock is firming around 26.75. A break above the August highs ( 28.39 ) would get the bulls moving again.

Chart courtesy of stockcharts ( click to enlarge )

As long as the stock holds above the $460 support level the intermediate-term picture should remain positive. Fresh exposures may be considered on a move past 480, with a stop-loss at 459.
Chart courtesy of stockcharts ( click to enlarge )

MRVL - Trendline support has been broken today on the daily chart at 14 with the next target at 12. The stock is already trading at its April lows and showing relative weakness. Get ready for another major leg down.

Chart courtesy of stockcharts ( click to enlarge )

RMBS failed to hold the last week jump and is once again bouncing off support with a big move on good volume. Watch support at $16.34.

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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