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Tuesday, April 21, 2009 

Stocks to watch Tuesday - Research in Motion and PMC Sierra

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

RIMM - Looking at the technical daily chart above, there is a possibility of a drop to 60-62.50. This view would be valid if the stock fails to move past the resistance zone at 68.08 ( 200-day moving average ) again. A close above this level would have positive implications and propel the stock into the next leg of the bullish trend. I continue to be bullish on the company and a move to the 75-80 range is not ruled out. Remain invested with a stop-loss at 62.50.

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

PMCS reversed direction at 7.30 today with a good volume. This level is proving to be a strong resistance zone. Long-term investors who have entered at lower levels may take partial profits and have a stop-loss at 6 for the rest. Shareholders who prefer higher risks may hold with a stop-loss at 6.71. A drop below this level would result in a short-term weakness and the share price may drop to the 6-6.20 range subsequently.

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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