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Saturday, May 30, 2009 

Stocks to keep a look out for next week - Noble Corporation, Trina Solar and Rambus

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

Friday, NE broke above the strong horizontal resistance of $33.78 to close at $34.37. Further rally could be seen to retest $40 medium term resistance. As long as the stock stay above 33.78 area, the bullish scenario is still intact. Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. Next targets for the stock are $35.08 and $40. Only a close below $33.78 reverses the current uptrend.

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

Trina Solar has rallied from below $6 to above $24 in just three months, a gain of over 300%. The technical chart shows very strong upward momentum as the stock is trading above the 50 day moving average with both 13 day and 50 day moving average going up. At this point I'm buyer only once it breaks through Friday’s high of $25.42 for the continuation move. Stochastics and the RSI are overbought but remain bullish signaling.

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

RMBS seems in a good bullish momentum. The new bullish trend on my daily chart looks good. My model is long, targeting 15. Key resistance is now located at 13.20, a break above this level will confirm the bullish trend, and the following uptrend will take price up to 15 zone. CCI heading up towards 100 line on daily chart. The Relative Strength Index is also moving higher, which is a sign of growing strength in the stock. Also the MACD is giving a positive indication.

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. Have a great weekend !!!

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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