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Thursday, July 16, 2009 

Stocks to watch Friday - Ciena , Yingli Green Energy and JDS Uniphase Corporation

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

YGE made a strong upside reversal today. The technical chart above suggests that stock might find now resistance at $13. Only a close above this level would suggest further upside. I think the stock is due for recovery as K line has crossed on top over D line. The stock needs to close above $13 in order to alleviate the negative near term view. Remain invested with a stop loss at $11.06.

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

JDSU - From the technical chart it looks like the slide has ended and the stock is now back on the rise again with K line on top over D line. Fresh buying may be considered on a move past $5.91, with a stop-loss at $5.41. At the moment, there is no reason to sell the stock.

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

CIEN showed more signs of strength on today's session, as the stock closed up $.27 on the day.

A quick look at the technical chart :

1) The MACD Fast line crossed up through the slow Line on Tuesday – Bullish.
2) 50 day moving average crossed the 200 day moving average to the upside.
3) RSI back above 50 level.
4) Money Flow-Index still climbing.
5) The +DI crossed up through the -DI his week - Bullish.
6) Golden Cross Activated

On Thursday, it tested the 50-day moving average line that has been resistance. If the CIEN can break above this resistance, that would be significant – Very Bullish.

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. 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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