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Thursday, September 25, 2008 

Stock Picks and Trade Ideas for Thursday - CIEN, BOOM, BIDU, ESLR

Chart courtesy of www.stockcharts.com ( click to enlarge )

ESLR could move to the $6.80-$6.86 range in the near term. Sell a portion of the holdings if the stock faces resistance at this zone. Hold with a stop-loss at $5.83.

Chart courtesy of www.stockcharts.com ( click to enlarge )

BIDU is trading close to the resistance level at the Rs $280-$281 range. A close above this range would impart strength and the stock could move easily to $305-$310 subsequently. The trend would turn bearish if the share price closes below $260.70. A drop below $252 would have major negative implications. Remain invested with a stop-loss at $252.01. Stay tuned on BIDU.

Chart courtesy of www.stockcharts.com ( click to enlarge )

BOOM - Buy on a close above $29.27 ( 50 day moving average ) with a stop-loss at $27.81 and a price target of $31.50.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CIEN - It looks like the buyers are finally aware of the buying opportunity at this level after the big drop occured early this month. The technical chart shows this is just the beginning of the rally as K line has just crossed on top over D line. In addition MACD back again above the sell line, this is a good indication that the stock could be back to bull market soon.

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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