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Tuesday, December 16, 2008 

Stock Picks and Trade Ideas for Tuesday - GET, SLB, SQNM

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

SQNM - From the technical chart both MACD and KD are showing bullish sign as MACD is rising near 0 while KD is crossing up again. The stock might test $21 level in the short term if it is able to sustain above $19 .

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

SLB has been trying to bottom for a couple of days now. There have been some pretty bullish candles forming and it seems to me like it is ready to turn up. If not, at least there is a clear area to put in a stop and scratch the trade. Hold it with a stop loss around $40 area. For people who is out, the buy point will be on the day it blows through $44.24 on heavy volume.

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

GET has rallied strongly off of the November Lows. On a short–term basis, the stock is fighting with the 12.58 level, I expect a breakout at any moment on a close basis. In addition, we can see that the relative index is starting to perk up, which supports the thesis for higher prices. Remain invested with a stop loss at $9.38.

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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