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Wednesday, January 07, 2009 

Top picks - CIEN and ADBE

Chart courtesy of www.stockcharts.com

ADBE - After being trading in a very bearish descending channel since August 2008 Adobe Systems appears to making a comeback in favor of the bulls. Price dropped near 19.50 per share and made a quick and strong jump near 24.50/share with increased volume. Once the stock registers a breakout above this level, there could be a rally to higher levels.

Chart courtesy of www.stockcharts.com

CIEN - Over the past five sessions CIEN has experience a huge increase in volume along with some strong price movement. Looking at the daily chart the stock broke out from a symmetrical triangle pattern breaking out of resistance around $7/share horizontally. I believe price action will make a quick run near to 9.85.

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 Folks.

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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