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Friday, December 05, 2008 

Stock Picks and Trade Ideas for Friday - GPS, TOL, BBBY

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

BBBY - Buy on a close above $24.22 ( 50 day moving average ) with a stop-loss at $20 and a price target of $26. The overall outlook for the stock at this precise moment appears bullish. Only a close below $20 would negate the short-term bullish outlook for the stock.

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

Toll Brother shares made a strong upside reversal last week. The technical chart above suggests that stock might find now resistance at $21,38 ( 200 daily moving average ). Only a close above this level would suggest further upside. Remain invested with a stop loss at $18,12.

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

GPS - The stock is now set up nicely in a base for a potential breakout, so keep an eye on it for a possible breakout over $13.38 on a close basis. 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 $13.38 level on heavy volume, and, we could be looking at GPS testing its resistance level at $14 and $15.71 respectively.

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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