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Friday, October 03, 2008 

Stock Picks and Trade Ideas for Friday - TRN, YHOO, RF

Chart courtesy of stockcharts ( click to enlarge )

RF - Looking at the daily technical chart the long term trend is still weak as the stock is still below 200 day moving average with the moving average keeps falling. However the stock may be in a rally for the short term as K line has crossed on top over D line. Investors can hold the stock with a stop at $10.44 ( 50-day moving average ). If this level holds, the stock can move up to $14.

Chart courtesy of stockcharts ( click to enlarge )

YHOO - The stock plunged to a new year low of $15.54 in Thursday's trading session. The technical chart shows weakness as the stock has dropped below the key support level of $17.25 on Monday and MACD has dropped below 0. It may be better to stay away from the stock for now.

Chart courtesy of stockcharts ( click to enlarge )

TRN - All supports broken, the stock is in full bear mode. The huge sell off in Trinity has surprised all, it is expected to bounce back to 20 this week, if sustained , can see $21.79 in short term. The long term trend is still weak as the stock has been trading below 50 day and 200 day MA with 50 day MA now going downward showing bearish signal. It is better to stay at the sideline and see how the stock react for the next few days.

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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