-Financial Tools Futures Market--TRADE IDEAS-- OPTION ALERTS -BENZINGA PRO-

« Home | Bank Stocks to watch Tuesday - Bank of America Cor... » | Ferrari motorcycle concept » | Stocks to keep a look out for next week - Euronet ... » | Stocks to watch Friday - Edwards Lifesciences and ... » | The future green car of Honda » | Bearish stocks to watch tomorrow - Potash and Mosa... » | Trade Ideas for Wednesday - Trian Solar and Evergr... » | Trade Ideas for Tuesday - Rambus and Netflix » | Cristiano Ronaldo will become the most expensive f... » | Hot Solar stocks to watch next week : Evergreen So... » 

Tuesday, June 23, 2009 

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.

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

Labels: , ,

Bookmark and Share

Contact

About Me

    Photobucket
  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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.

  • Benzinga.com supporter

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google