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Tuesday, March 17, 2009 

Stock Picks and Trade Ideas for Tuesday - Micron and Lancaster Colony Corporation

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

LANC is also in a good bullish momentum. The stock hit my long target at 42.55 even further, topped at 42.91. However, CCI already in overbought area so the bullish power could be exhausted right now. The positive long-term view will be negated only if the stock closes below the stop-loss level at 38.52. Long positions may be considered on weakness, with a stop-loss at 39.88.

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

MU - The stock continued it’s bullish momentum on Monday, but with less power. At the end of the day Micron shares closed at 3.65. CCI already in overbought area on daily chart, so watch out for a minor downside pullback. Immediate support is seen at 3.50. A close below this level would impart further weakness and would push the stock to the 3.25-3.37 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. See you later !!!

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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