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Saturday, April 18, 2009 

Hot stocks to watch next week - Level 3 Communications, Ciena, Evergreen , JDS Uniphase

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

JDSU has made an awesome move on Friday breaking out of an ascending triangle patterns with volume backed confirmation. I went long at 4.42 as its quite possible we should see a short term move near $5.30/share. The technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. At the moment, there is no reason to sell the stock.

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

ESLR - Although, Friday’s bearish move suggests a possible halt in price and consolidation in play. One thing is for sure, and that is the fact that this stock looks attractive at these prices. The stock looks pretty good on the daily chart holding above it's 20 and 50 day moving averages. The 20 day sma also just crossed above the 50 day sma which is another positive bullish signal I use. A successful breakout over 2.50 would have an estimated target of $3.

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

CIEN broke its major resistance yesterday and continues to work its way higher. From the technical chart both MACD and KD are showing bullish sign as MACD is rising near 0 while KD is crossing up. The stock might test $10.35 level in the short term if it is able to sustain above $9.10.

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

LVLT - Looking at the daily technical chart this stock looks set up for another potential major run. Friday price rallied 20% breaking out of its short term consolidation pattern. I think its very possible we could see this move to 1.50 - 1.65 in the near term.

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 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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