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Tuesday, November 25, 2008 

Stock Picks and Trade Ideas for Wednesday - RMBS, MSFT, RIMM

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

RMBS - The stock was brought down pretty severely on low volume over the past weeks.Today the scenario was a bit different, with the stock surging sharply after the Federal Trade Commission filed a petition with the U.S. Supreme Court asking it to overturn an appeals court ruling in favor of Rambus. Looking at the technical daily chart now, it shows the stock is due for recovery as MACD is near the neutral zone 0 and K line is on top of D line. Although both 50 day and 200 day moving averages are falling, the rising KD shows the stock is probably now in recovery mode. I think the stock will be heading higher. I would look for $7.85.

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

MSFT - The stock needs to close above its 20-day moving average on a daily basis in order to mitigate the negative near term view. If the stock fails to move above this level, it can decline to $19 or $18.61 over the next days.

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

RIMM - There has been a persistent decline in this stock since August tempered with short-lived and unconvincing rallies. From the technical chart the long term trend is still weak as the stock is still below 200 day moving average with the moving average keeps falling. The stock needs to close above $46.58 in order to alleviate the negative near term view. If the stock fails to move above this level, it can decline to $40 area.

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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