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Sunday, January 18, 2009 

Trades Ideas for the week ahead - LMNX, RIMM, TRN

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

TRN - Here is my top pick for 2009. Any spending package from Obama is likely to include considerable spending on roads and rail as well. Trinity Industries (TRN), owns a leading producers of concrete, aggregates, and asphalt in Texas and neighboring states and the only full-line US manufacturer of highway guardrail and crash cushions, meaning that they are very well placed to benefit from the stimulus. The stock made indecisive movement on Friday by opened and closed at almost the same price and formed a Doji candle stick formation on daily chart. I still have a valid bullish channel on hourly chart. My model remains mixed with upside bias. Although bears continue to dominate the bulls in January, the stock may be finally testing for firm support around the 13.40 baseline. One key indicator that I will monitor closely is the reversal KD, where now K line and D line are tangled together. If K line can break above D line we may see some rally.

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

LMNX - The short-term trend is up. The immediate target is 20.96. The stock should be bought only on a close above 21.28, as it faces strong resistance at that level.

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

RIMM - Looking at the daily chart the stock broke out of a great looking bullish trading channel with a short term price target near $57/share. This is a very bullish breakout on heavy volume signaling that bullish momentum is very strong at this point. The price can head towards the 55-57 zone. If this zone is surpassed, getting to 60 would be a possibility.

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. Have a nice weekend !!!

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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