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Wednesday, November 26, 2008 

Stock Picks and Trade Ideas for Friday - NOVL, RFMD, ESLR

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

ESLR made a strong upside reversal today. The technical chart above suggests that stock might find now resistance at $2.98. Only a close above this level would suggest further upside. Remain invested with a stop loss at $2.50.

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

RFMD - Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. A decisive break of the 20-day moving average at $1.49 on heavy volume, and, we could be looking at RFMD testing its resistance level at $1.50 and $1.75 respectively.

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

NOVL - Over the last 52 weeks the stock has ranged from a low of $2.49 to a high of $7.59. Technicals have turned bullish signaling sideways to higher prices possible in the near term. Next targets for the stock are $4.61 ( 50 DMA ) and $4.86. Only a close above $4.86 reverses the current downtrend. Let's keep an eye on it.

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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