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Sunday, November 30, 2008 

Stock Picks and Trade Ideas for the week ahead - DLTR, AAPL, FSLR, ADP

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

ADP - Traders should be cautious at current levels. Initiate long position when the stock breaches $41.66. From the technical chart it looks like the slide has ended and the stock is now back on the rise again with K line on top over D line and MACD above the sell line. Fresh buying may be considered on a move past $41.66, with a stop-loss at $39.12.

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

FSLR - After a sharp upward move, I think the stock will start a new corrective phase. Although KD show positive sign with K line rising on top of D line, this is not yet the time to buy as the stock is still weak as 50 and 200 day moving averages are still falling and the stock is still on downtrend. The stock is likely to seek lower levels in the coming week. A drop to the $120-118 range appears likely while a close below $117 could lead to a much more prolonged corrective phase.

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

AAPL is still finding it difficult to move above its 20-day moving average. Fresh buy should be initiated only when the stock moves above this line of resistance now at $94.62.

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

DLTR - The stock broke out this week on pretty good volume. If this chart does what is supposed to do, it will be going higher in the weeks to come. At the moment, there is no reason to sell the stock. Hold with a stop-loss at $40.

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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