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Friday, July 03, 2009 

Trade Ideas for next week - Ciena, Sirius XM Radio and Capstone Turbine Corporation

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

SIRI has made a sharp recovery from a low of 0.34 on the basis of short-covering. In the short-term, i expect the current reversal in trend to continue. The technical daily chart shows the stock is in a bull market as MACD is on top of signal line K line is on top of D line, both indicating buy. In addition, the stock is on top of 50 day and 200 day moving average showing the stock is in bull market. The chart also shows that there is a limited evidence of downside pressure on the stock, for example on Friday the stock dropped 2.7% on low volume (no selling).This is a clear evidence of the strength of bulls. They are controlling the stock.

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

CIEN - Despite seeing a steady declining trend in the last trading sessions of the week, the stock managed to hold on the crucial levels of 9.54, amid some volatility. Since the begining of March the stock has show sign of recover as it has reversed the downward trend and began to go north. Moreover when the Golden Cross was formed in early May, we have been expecting the major rally. However the weak market in June drove the stock down a little bit and delayed the rally. At the moment, I'm still convinced the stock will move up again, due to the fact that it has been falling on low volume with MFI rising.

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

CPST - The 50-day moving average at $0.78 is acting as a strong support currently. As long as it doesn't break down 0.78, the chances of going to 0.98 is always there. The stock has bounced off from the above mentioned levels on three occasions. The daily RSI is also showing a sign of reversal, currently trading above 49. If CPST can go up again to bring K line up then you may want to consider buying the stock as it has pletty of room to go since ROC is at oversold level. Short-term traders can buy the stock in the range of 0.78-0.79 for a target of 0.89. Maintain a stop loss of 0.78 and go long. Increase the position if it closes above 0.85.

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 Monday !!! I just want people to have a nice Independence Day.

AC

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hello... hapi blogging... have a nice day! just visiting here....

Barrington calculates what could be significant upside from current levels to $0.70 (post dilution), based on 2010 estimates and to $1.30 based on 2011 estimates. Given this upside, they now rate SIRI as an OUTPERFORM.

To the Moon......

John

Barrington believes that investors should consider several core fundamental issues:

- A favorable swing in EBITDA of more than $500 million into positive territory this year should be followed by substantial, additional annual gains.

- Added revenue sources, especially a royalty recovery fee with broad application, should boost revenues.

- Cost cuts have been achieved across a broad swath of line items, with more to come.

- Top line opportunities have been a focus as well, despite the challenge imposed by a merger agreement that included no increase to the base subscription rate for three years.

- Sirius XM has added charges for the previously complimentary Internet service and it increased its price for additional subscriptions under the family plan.

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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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