Stocks to watch Wednesday- Sohu.com , Rambus and Capstone Turbine Corporation
Chart courtesy of www.stockcharts.com ( click to enlarge )SOHU produced an oversold bounce today but the rally struggled near the $62.50 level. The stock remains in downtrend. Deeper decline is still possible to 57 zone next week. Initial resistance is at 62.50, as long as the resistance holds, I'd expect downtrend to continue. However, above the resistance will indicate that the fall from 69.54 has completed, and the following rebound will bring price back towards 65 zone.
Chart courtesy of www.stockcharts.com ( click to enlarge )RMBS lost 16% today on strong volume after the memory chip maker cut its sales guidance and raised estimates of litigation and compensation expenses for the quarter. The short term scenario is not encouraging for the investors. This is a good sign for the bears. Rambus shares have broken some key supports in the $18 to $16 range. In other words, the long-term trend has turned negative. My target will be the $13.11-13.25 range. Please note there is some support near $14 and I expect a bounce there but the prevailing pattern is bearish. Fresh exposures may be avoided.
Chart courtesy of www.stockcharts.com ( click to enlarge )CPST - Tuesday’s trading session marked a test of the 0.78 support line. The stock filled the gap that was left from its run a few days ago. Plus, volume was a little higher than yesterday suggesting a reversal trend. Tuesday’s high of $0.87 is resistance for Wednesday’s continuation move. If CPST can break through this high we should see another upside move. There could be good upside in CPST so watch the stock closely on Wednesday. This is a risky play but I think this stock could go much higher very soon.
That's all Folks. See you on Wednesday !!!
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 on Wednesday !!!
AC
