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Saturday, March 14, 2009 

Stocks to watch next week - Las Vegas Sands, Rambus, General Electric and Fifth Third Bank

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

GE had a very good bullish rally last week accompanied with large volume. This stock is good to hold for the short term only. The stock currently stopped short of breaking the resistance at $10 which is the resistance line formed from Frebuary. Also watch out for other resistance levels at 11.41 which is the 50 day moving average. Currently, the technical indicators are displaying good signs. Buy if resistance is broken with good volume, possible target price is around 11.41. Wait for the breakout.

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

FITB - The stock formed a symmetrical triangle. As with any symmetrical triangle, it could either break up or down. Currently 1.97 is acting as a strong resistance. For this coming week, we will be able to see if the stock will break up the resistance or not. Otherwise if this does not materialize, then watch out for a possible move downwards to 1.61 and there is still a possibility of reaching 1.55-1.5 price level.

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

RMBS - Is the Inverted Head & Shuolders a reversal sign? Well sometimes it does act as a reversal pattern. But this we still have to see for the coming week. Last Thursday and Friday’s trading had insufficient volume, so the expected breakout has not yet occurred. Looks like next week would be Rambus’s week. If this breaks out of the neckline, target level is around 13. My model is mixed with upside bias. For now lets wait for that break out to occur.

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

LVS - According to the technical chart above, Full stochastic and MACD have already generated a buy signal. I am expecting a breakout at 2.31 on a close basis with a target of 2.89, but the 20-day moving average is currently blocking the target. If the breakout does not happen and the price moves further downward, we may expect a support of 2.06 and price movement to be sideways. Stay tuned on it.

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 on Monday !!!

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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