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Wednesday, May 20, 2009 

Trade Ideas for Thursday - Symantec and Verisign

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

VRSN - The stock didn’t made a significant moves on Wednesday. My model remains long, targeting 25.83. Immediate support is seen at 22.93. The technical chart is still showing buy signal with stock trading above 50 day moving averages with MACD on top of "0".

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

SYMC - Today, the stock continued it’s bearish momentum. On the daily chart, we can see that the stock tested but failed to break its 200-day moving average at $15.66. Looks like more downside potential likely after the stock failed to move past this level on a closing basis. Immediate support is seen at 15 followed by 14.5. Initial resistance at 15.60.

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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