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Thursday, November 13, 2008 

Stock Picks and Trade Ideas for Friday - CNQR, JNPR, CSCO

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

CSCO - The stock is making low highs and lower lows since beg October, even though there has been a nice bounce today, this no means that a reversal might occur. Technicals are oversold and remain neutral to bearish signaling sideways to lower prices in the near term. The stock needs to cross and close above its 20-day moving average at $17.48 to turn the trend bullish. Keep an eye on Cisco for a possible reversal.

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

JNPR - The daily chart shows that the stock made a new low for the year today at $14.20. Technicals are oversold but remain neutral to bearish signaling sideways to lower prices possible in the near term. Only a close above $17.73 ( 20-day moving average ) will confirm the short term low for the stock. I'm looking for a good trade if the prices close above this level. In the short-term expect a push to $17 promptly. Failure would prompt downward support in $16 range, then $15.27.

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

CNQR - The stock broke down trendline resistance with good volume over the last two days. For now, expect a run up to next resistance area around $26. If the stock is able to cross it and sustain above it, then it might go to $32.78. Support lies around $23.93.

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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