Trade Ideas for Wednesday - Ciena and Yingli Green Energy
Chart courtesy of www.stockcharts.com ( click to enlarge ) YGE - The stock failed to continued it’s bearish scenario today. The stock topped at 13.04 and closed at 12.98. On the daily chart we can see the short term bearish trend line has been violated to the upside. The bias is now bullish in nearest term but remains neutral in medium term. With KD rising we could see possible rally coming for the stock. Let's keep an eye on YGE as i think momentum will pick up.
Chart courtesy of www.stockcharts.com ( click to enlarge )Ciena was upgraded by financial analysts at Soleil. They expect the company will report better than expected earnings in 2010 and 2011 due to new product cycles with strong gross margins. Shares were assumed with a Buy rating and $14.50 price target. Today, the stock closed above its 50-day MA for the first time since mid-June. This signal usually tends to have bullish implications that the near-term trend of the stock is higher. The bias still bullish in nearest term. The technical indicators are looking better for the stock with MACD moving up, K line on top of D line and RSI indicator moving up from the 50 level. I have to be honest with you, this stock is one of my favorites for the coming months.
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
