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Thursday, February 05, 2009 

Stock Picks and Trade Ideas for Thursday - RMBS, CEPH, DSX

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

DSX - The stock should pause around its resistance at 15.70 after recent rally in share price. The recent action in Diana Shipping shares is very promising. Last month stock aggressively moved off its lows of 10.55 to rally till near 14.20 with a volume above average. The big movement in the past few days tells me to be patient. Buy point is when it crosses the resistance line at 15.70 on heavy volume.

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

CEPH - Cephalon shares have been on a remarkable run since last month and it doesn’t looks like the trend will change soon. Today stock broke out an important resistance at 80.38 with heavy volume but failed to close above that. After today session, the stock has now the chance to start a new rally as MACD fast line is now back on top over slow line, indicating buy signal. Keep CEPH in your watchlist.

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

Rambus' shares tumble more than 16% on today session after a california judge on Monday halted the coordinated patent infringement cases pitting memory chip maker Rambus Inc. against Hynix Semiconductor, Micron Technology Inc., Nanya Technology Corp., and Samsung Electronics Co. The Judge Ronald M. Whyte of the U.S. District Court for the Northern District of California issued an order postponing the case indefinitely, pending appeals of earlier court decisions, according to Boise, Idaho-based Micron. Looking at the daily chart, the stock broke through major support levels over the past weeks. What was showing tremendous weakness for the stock was the rally attempt that I circled on the chart failed to move above 10. Today the stock broke through another key support at 7.95 on high volume. A decline to the 5-6 range appears likely. A close below 7.01 would impart further weakness and would push the stock to that range.

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. 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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