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Tuesday, October 07, 2008 

Stock Picks and Trade Ideas for Tuesday - EBAY, GOOG, RFMD

Chart courtesy of stockcharts ( click to enlarge )

EBAY - The stock is out of control. Not a pretty picture. In downtrend mode. The technical chart shows very bearish sign with the stock below its major moving averages. In addition other technical indicators such as MACD and KD also show sell signal as MACD is below signal line and K line is dropping below D line.

Chart courtesy of stockcharts ( click to enlarge )

RFMD - The stock made a new 52 week low of $2.42 today. The daily technical chart above still shows bearish sign as the stock is trading below the 50-day moving average and the 200 day moving average with both moving averages going downward. The other technical indicators such as MACD and KD also show sell signal as MACD is below 0 and K line is below D line. The recent news also made the stock less attractive, so wait for better times to enter long.

Chart courtesy of stockcharts ( click to enlarge )

GOOG - The bears are still in control. With stock trading below the 50-day moving average and the 200-day moving average with MACD below 0, it is still in weak bear market.

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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