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Thursday, May 14, 2009 

Hot stocks for tomorrow - Rambus and Advanced Micro Devices

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

Rambus shares soared on Wall Street on Thursday after the Federal Trade Commission issued an order dismissing the remainder of its antitrust case against the memory chip designer. In the order, the FTC also indicated that it would not pursue further proceedings against the company, as it would not be in the public interest. The stock closed up by $1.52 at $12.30 on above average volume. From a technical perspective the stock breaks above 11.98 key resistance, suggesting that the short term correction has completed and downtrend resumed this morning. Further rebound is expected to test 13.20 previous high resistance,if a break above this level occurs, price could eventually target the 15 region to the upside. Initial support is now at 11.33, only fall below this level will signal deeper decline to retest 10.34 level.The medium term trend is positive as the stock is trading above both 50 day and 200 day moving averages.

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

Although AMD has lost its steam, this stock is still on the bullish outlook as MACD is still on the positive side with MACD above signal line. In addition the on Balance Volume is in an upward trend it basically shows that the stock has being bought. Initial support is located at 4.03 on daily chart. As long as the trend line support holds, the uptrend will continue.

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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