Trade Ideas for Wednesday - CPO, GOOG, ZION
Chart courtesy of www.stockcharts.com ( click to enlarge )ZION - Looking at the chart, we can see that the trend is clearly downwards. The MACD is also painting a negative picture with the indicator below its signal line. The stock broke down its major support on Friday on increased volume. Not a pretty picture. Long positions must be avoided.
Chart courtesy of www.stockcharts.com ( click to enlarge )GOOG - The near-term outlook is negative and a move to the 262-265 range appears likely. The technical daily chart shows the stock is in a bear market as it is way below of 200 day moving average and trading below its 20 and 50 day moving averages. In addition, since MACD is in negative territory as it has dropped below 0 this is not the time yet to buy the stock for long. Only a break above 301.50 would reinstate bullishness.
Chart courtesy of www.stockcharts.com ( click to enlarge )CPO - You can see the sell off in the stock on the daily chart after the bearish rising wedge was broken to the downside. Any rally will have difficulty going above the 28.47-30 zone. It is best to exit this stock on any rally. Till then, hold with a stop at 25.94.
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
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
