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Tuesday, December 02, 2008 

Stock Picks and Trade Ideas for Wednesday - EBAY, ADBE, CSIQ

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

CSIQ - The long-term chart shows an under performer when compared to other stocks in the same sector. Canadian Solar seems to have a remarkable support around the $4 level but the medium-term chart shows a clear downtrend channel. If this stock breaks out above $5,82 its very probable that we will see a decent upside move for the bulls.

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

ADBE - Daily chart above shows that it is still to early to say that the downtrend has ended for Adobe Systems. It is better to stay at the sideline. Only a close above $23,27 would trigger some positive sentiment.

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

EBAY - The stock crossed its 20-day moving average and closed up $1,03 at $13,26. The current rally should at least push the stock to $13,59 per share where the major resistance is. The stock needs to close above this level to indicate a continuation of the rally off this month’s low of $10,91. If this rally fails, there’s downside risk to support around $12.

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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