Hot stocks for Thursday - American Italian Pasta, Rambus and Wells Fargo
Chart courtesy of www.stockcharts.com ( click to enlarge )
RKH - On Wednesday session, the stock declined initially and found support around $15level. However, subsequently it recovered and rallied 10 percent from the session’s low. The near-term outlook will depend on the price movement in the next few days. A breakout or breakdown may happen soon. I’m more to expect a breakout from this stock because of the following bullish indicators: 1.) MACD crossing above the signal line. 2.) RSI has consistently stayed above the 50 level.3.) with MACD above 0 and K line above D line we should see the stock continue to go up.
Chart courtesy of www.stockcharts.com ( click to enlarge )
AIPC - The stock broke resistance today, but was not able to make the expected move. The stock needs to break Wednesday’s high of $34.10 to expect a strong rally at this point.
Chart courtesy of www.stockcharts.com ( click to enlarge )
RMBS - The stock is still facing resistance around 10.65. The technical daily chart above is showing bullish bias. MACD is indicating that the current short term price trend is very bullish. In addition, the On Balance Volume is increasing, indicating accumulation of shares in the market. I'm still maintaining the buy rating on Rambus as the technical chart still shows very bullish sign as 20 day moving average is on top over 50 day moving average with MACD above 0. One thing I would like to point out was the unusual options activity in Rambus over the day. If you go out to the April 2009 options expiration contracts, you will see that nearly 9050 contracts have been traded in the APR09 $12 CALLS. One rumor pointed to Hynix, and one to a possible buyout. Stay tuned on Rambus....
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
