Hot stocks for Wednesday - Rambus and Network Appliance
Chart courtesy of www.stockcharts.com ( click to enlarge )NTAP - The stock closed at 19.93 on Tuesday, up 1.47 cents points for the day. The technical indicators are looking better now for the stock. NTAP has broken the upper channel line of this short term downtrend line and is now very bullish with the breakout having a large spread and volume. Looking at the daily technical chart the stock has just entered into a bull market as the stock is on top of 50 day and 200 day moving average and 50 day moving average has just crossed on top over 200 day moving average to form Golden Cross, a very positive sign. Other technical indicator such as MACD, is above 0 showing positive momentum while KD line also show buy signal as K line crossed on top of D line. Technically speaking the stock is painting a “Bullish” picture.
Chart courtesy of www.stockcharts.com ( click to enlarge )Rambus surged on Tuesday after it has announced that the U.S. District Court for the Northern District of California has ordered Hynix Semiconductor Inc. to secure the judgment amount of approximately $397 million through a combination of a bond and a lien on a Hynix property in South Korea for infringing Rambus patents. Rambus is the frequent subject of patent infringement & anti-trust claim issues. Hynix Semiconductor, Samsung Electronics, Micron Tech have had patent infringement suits with Rambus. From a technical perspective the stock broke an important resistance at $12.50 with good volume. This means there is more upside. I think this is quite likely. The decline over the last few days occurred on lower volume and the stock is firming above its 13-day moving average. The technical chart shows the stock is now back to uptrend and with K line above D line and RSI above 50 we may see more upside. In addition, the on balance volume is increasing, this clearly shows that smart money is moving into the stock. The share price is likely to move to the target zone of the 14.62-15 range. For the long term the stock should still continue to go up.
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
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
