Stock Picks and Trade Ideas for Wednesday - AAPL, RIMM, GOOG
Chart courtesy of www.stockcharts.com ( click to enlarge )GOOG - The stock crossed its 20-day moving average and closed up $39,26 at $368.75. The momentum indicators are attempting to turn up from oversold levels. The technical daily chart above shows new rally has just begun as K line has just crossed on top over D line. In addition low ROC at oversold level should also attracts more buyers. However some weakness remains as stock is trading below 50 day and 200 day moving average. The stock needs to close above $381 on a daily basis in order to mitigate the negative near term view. Investors with a short investment horizon should sell the stock if it fails to surpass this level.
Chart courtesy of www.stockcharts.com ( click to enlarge )RIMM - Research in Motion has recovered from its earlier low of $40.21. The current rally should at least push the stock to $50.22 per share where the major resistance is. The stock needs to close above this level to indicate a continuation of the rally off this month’s low of $40.21. If this rally fails, there’s downside risk to support around $41.19.
Chart courtesy of www.stockcharts.com ( click to enlarge )AAPL - The stock crossed its 20-day moving average and closed up $7.82 at $99.91. The stock needs to close above $101.50 this week, to confirm this new uptrend. If the stock fails to move above this level, it can decline to $92.40 or $90 over the next trading sessions.
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
