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Saturday, November 22, 2008 

Stock Picks and Trade Ideas for the week ahead - AMD, SNDK, RIMM, MSFT

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

MSFT - The stock surged more than 12 percent in Friday trading, accompanied by a strong volume expansion. A break above $20.51 would turn this chart bullish and a move below $18.61 would put the bias back with the bears. Technically, the chart is showing weakness as both 50 day and 200 day moving average are still going downward. In addition, MACD is still under 0 indicating bearish trend. Wait for a break above $20.51.

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

RIMM continues to channel down since September and only a move past $46.73 would impart a positive trend. Resistance is at $46.73 ( 20-day moving average ), followed by $48.65. The support is at $41.31. Some indicators are improving but it needs to breakout above the $48.65 resistance to confirm the change in trend.

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

SNDK - It's hard to believe but the share price is falling nearly 75% since mid-September. The technical chart looks oversold short term. A move higher on Friday of more than 5% showed some life. A move above $6.15-6.30 would make things interesting short term. Based on the latest earnings report, I would keep a tight stop on any long position.

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

AMD's stock is like a falling knife, it keeps falling and falling, and soon the stock will be under $1. Technically the chart looks horrible, and I would not be too surprised to see the break below $1.62 during the next week. Never catch a falling knife in this 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 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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