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Monday, July 06, 2009 

Trade Ideas for Tuesday - Labopharm and KLA-Tencor Corporation

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

DDSS has a Bullish looking stock chart, price broke out from the horizontal resistance mark around $2.45 per share on a respectable volume. The technical daily chart show a continuation of the trend with MACD and RSI in the Bullish areas. From a technical viewpoint, the stock is continuing to develop new highs and therefore defining a new bullish trend. Initial support is at 2.46 and followed by 2.37, as long as 2.46 support holds, I'd expect up trend to continue and further rally could be seen to 2.95 zone. However, a break of 2.37 level will take price back towards 2.20 level. Let's see if tomorrow the stock will confirm the recent breakout.

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

KLAC remains in a short up trend. Further rise to test 27.87 resistance is still possible, and a break of 26.36 ( 50-day moving average ) will confirm such case. Initial support is at 25.41. Investors should contemplate fresh purchases only on a close above this 26.36. Most of the technical indicators are pointing towards some more upside in the coming sessions. RSI have moved above the 50 points mark in the daily chart and Stochastic oscillators are surging.

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 !!!


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About Me

  • 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.

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