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Tuesday, February 10, 2009 

Trade Ideas for Tuesday - ESLR and BIG

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

BIG - The stock closed at 15.21 on Monday, up 96 cents points for the day. The technical indicators are looking better now for the stock. BIG has broken the upper channel line of the short-term channel and there was a positive divergence between price and its RSI indicator. The ADX is also decreasing showing that the Bearish trend is weakening. The +DI is now above the –DI another bullish sign. Technically the stock is painting a “Bullish” picture.

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

ESLR - The technical daily chart looks really bad. Today drop was on heavy volume again. The MACD indicator is way below its signal line, indicating a sell signal. RSI is in high versold territory but stocks that are in a downtrend will stay in oversold region for extended duration before rebounding. With fundamentals weak and technical chart not showing any sign of rebound, it is best to avoid the stock until a clearer picture emerges.

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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