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Saturday, December 06, 2008 

Stock Picks and Trade Ideas for the week ahead - JDSU, MRVL, BRCM, JPM, QCOM

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

QCOM - The trend would turn positive only a close above $32,23. Long positions may be considered on a daily close above this level, with a stop-loss at $29,35. Thechnically, the chart shows weak sign as the stock is below both 50 day and 200 day moving average. However KD shows possible rally as K line is nowon top over D line.

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

JPM is forming a rising wedge (bearish pattern) on daily chart with a likely target of around $36. It will be interesting to see if market touches $35 or perhaps even $36.89 in the coming days before a good fall. For now, the technical short-term indicators look favorable for the bulls, however be cautious on all up moves and keep a close eye on the wedge. The moment the wedge is broken, expect good correction.

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

BRCM is still holding support at $14 but at the same time has not bounce very strongly here. A break below this level will likely be bearish for stock, on the other hand a close above $15.05 on heavy volume will launch a rally to $15.69. The technical indicators show the stock is back to rally again as K line is above D line with MACD also back above signal line.

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

MRVL - The stock is sitting right on its 20 day moving average at $5.65. The technicals indicators, although basic, point to a move higher in the coming days. MACD above "0" with KD rising.

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

JDSU - The stock surged to its 20-day moving average resistance with a good volume on Friday. A break above $2.98 on a close basis would be quite bullish. From the technical chart both MACD and KD are showing some bullish sign as MACD is rising while KD is crossing up.

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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