Stock Picks and Trade Ideas for Wednesday - PAAS, BBY, RMBS
Chart courtesy of www.stockcharts.com ( click to enlarge )RMBS remains in a clear uptrend, but there were three days of increasing volume and this stock is way overextended. The technical chart shows positive sign as the stock is now trading above 50 day moving average with KD rising and MACD now above 0. Recent surge may spur profit taking near the 200 DMA but for the short term is looking good.
Chart courtesy of www.stockcharts.com ( click to enlarge )BBY - After breaking out from its bearish descending channel the stock has made a strong run topping it off with todays strong rally on increased volume. The technical chart above shows the stock has reversed the downward trend with MACD back above 0 and stock trading above 50 day moving average. In addition KD also indicate positive momentum.
Chart courtesy of www.stockcharts.com ( click to enlarge )PAAS broke out from the horizontal resistance on expanding volume. This momentum could push this stock much higher from here. Next resistance is now seen at $18.14.
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
