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Wednesday, December 03, 2008 

Stock Picks and Trade Ideas for Thursday - STX, RIMM, AAPL

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

AAPL - The stock has made a huge decline the past weeks and looks like a squeeze could be in play as price has reacted very well to its 20 day moving average. Looking at the daily chart price is forming a nice base which could possibly breakout to the upside and accelerate towards the resistance at $98,94. Keep your eye on this for tomorrow.

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

RIMM - On a technical basis the stock is still in a downtrend despite the pop in price on today's session. The resistance levels are now at $40.21, then at $41.31 and then the upper limit of the current bearish channel which is today at $45,23. It would need to break above that level to change the bearish trend.

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

STX is still holding a nice support around $4 but at the same time has not bounce very strongly here. A break below $4 will likely be bearish for stock. On the other hand, a close above $4.80 on heavy volume will definitely launch a rally.

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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