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Saturday, October 04, 2008 

France In Recession & some trade Ideas for the week ahead

Over this week I have mentioned here in one post that some countries were about to enter into recession. On Friday, we have received the confirmation that France is the first one. The gross domestic product of the second largest economy of the euro zone will have fallen 0.1% in the third quarter, having recorded a contraction of 0.3% in the previous quarter, showed the economists of INSEE, cited by Bloomberg. The French economy should re-register a contraction of 0.1% in the last quarter of this year, according to the estimates of the institute, disclosed today. The confirmation of these figures, a total of the year, French GDP has grown 0.9%, the lowest rate since 1993. The deterioration of employment and real estate market in the country, due to the crisis in global credit, is penalizing consumers' confidence. The French has been the first to reach this economical situation but it will not take too much time to read and hear that more countries will join France, countries like Spain, Italy, Germany and so on. We're living one of the worst financial crises ever with bankruptcies in large scale, lack of confidence between banks, and the most important thing, consumers with lack of money and overlly indebted. This is too bad...... U.S. companies will have now to deal with another problem on the other side of the Atlantic, Europe in recession. Find below more trade ideas for the week head.

Chart courtesy of stockcharts ( click to enlarge )

MSFT - Contrary to expectations, the stock ruled weak and recorded a net decline of $1.42 for the week. The recent fall has not affected the positive outlook expressed last week. The short-term trend remains bullish and the stock appears to be headed towards the target zone at $27.50. The technical chart shows the stock is currently in the rally as MACD is above 0 and K line is rising on top of D line, both indicate buy signal. Shareholders may remain invested with a stop- loss at $26.


Chart courtesy of stockcharts ( click to enlarge )

C - The technical chart shows weakness as the stock is now below both 50 day and 200 day moving average. A close below $16.85 would push the stock into a bearish orbit.

Chart courtesy of stockcharts ( click to enlarge )

UCBI -This stock is holding up nicely above the key support of $12.90 in this weak market environment. After today's action the technical chart shows stronger bull market signal as the stock price is now above 50 day and 200 day moving average. In addition K line has just crossed on top over D line showing strong buy signal as ROC is at oversold level. Short-term investors can hold the stock as long as it trades above this support with a stop at $12.90. Long-term investors can keep a deeper stop at $12.

Chart courtesy of stockcharts ( click to enlarge )

NVDA -There is strong support at $8.80 and a close below this level will mean lower levels. The technical chart shows all indicators in a bearish zone, so we probably will see a movement to the major support next week.

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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