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Tuesday, July 07, 2009 

Stocks to watch Wednesday- Nvidia and Rambus

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

The stock made a nice reversal today and finished stronger. Further rally is still possible to $16 zone. From the technical chart the stock looks somewhat weak in the short-term as the stock is still trading below the 20 day moving average and short-term MACD moving down. However, the surge today brought K line to near D line indicating that we can see a rally soon. Hold the stock with a stop at $14.52.

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

If the weakness continues and NVDA breaks the support at $10.08, there will be a good chance that the stock will test the $9.18 support. However, as long as support holds a reversal is possible. Technically, there is nothing positive about the technical chart. All other indicators still point to a bear market.

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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