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Wednesday, August 26, 2009 

Stock Market Ideas for Thursday - JDS Uniphase Corporation and Cell Therapeutics, Inc.

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

There appears to be marginal downside risk from prevailing levels. JDSU is going to be very interesting to watch as the stock hit a new 52-week high. Resistance is now $6.86, which was Wednesday’s high of the day. You want to keep a close eye on JDSU as it has the potential to make big upside moves. The stock has a good looking stock chart price broke out from the horizontal resistance mark around $6.35 on heavy volume. This breakout suggests a possible move to $10.

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

CTIC failed to close above the resistance level of $1.83. This resulted in a sharp drop on Monday. The recent price patterns suggest that the downward move witnessed on Monday could continue. A decline to the 1.50-1.52 range appears likely. A close below these levels would impart further weakness and would push the stock to the 1.35-1.4 range. On the other hand, the weak outlook would be negated on a close above 1.64. At this stage, keep an eye on the $1.52 ( 50 dma ) level for signs of support.

Other Stocks to Watch :

Rambus - RMBS ( Record Price Breakout )
Wells Fargo & Company - WFC ( Bullish Engulfing )
AT&T Inc. - T ( Bullish Engulfing )
Novavax, Inc. - NVAX ( Bullish Engulfing )
Sequenom, Inc. - SQNM ( Bullish Engulfing )
Seagate Technology - STX ( Bearish Engulfing )
Ambac Financial Group, Inc. - ABK ( Bearish Engulfing )
Johnson & Johnson - JNJ ( Bearish Engulfing )
Interpublic Group of Companies, Inc. - IPG ( Bearish Engulfing )
Cardionet Inc - BEAT ( Unusual Call Option Volume )
Red Hat, Inc. - RHT ( Unusual Call Option Volume )
ViroPharma Incorporated - VPHM ( Unusual Call Option Volume )
Forest Oil Corporation - FST ( Unusual Call Option Volume )
QLogic Corporation - QLGC ( Unusual Call Option Volume )
Fred's, Inc. - FRED ( Unusual Put Option Volume )
A-Power Energy Generation Systems, Ltd. - APWR ( Unusual Put Option Volume )
Regions Financial Corporation - RF ( Unusual Put Option Volume )
Diageo plc - DEO ( Unusual Put Option Volume )

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...
Cheers!

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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