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Wednesday, August 19, 2009 

Stock Market Ideas for Thursday - Tessera Technologies and NetApp Inc.

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

TSRA has had a hard time with resistance here. The level which the stock may have trouble moving above, is today at $26.30. It would need to break above that level to run to $28. Looking at the daily chart, the MACD continues below its signal line, showing a clear evidence of a Bearish trend in the short-term. In addition, K line is falling below D line, generally a bearish signal. However unless the stock can break above $26.30, don't expect too much going from the stock.

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

NTAP reversed direction at $24 on Thursday. This level is proving to be a strong resistance zone after the recent rally. A strong trend would not be in place unless the stock closes above this level. The near-term outlook would depend on the price movement in the next few days. A close above $24.19 would impart bullishness and would help the stock move higher. A drop below $22.30 would have negative implications that would push the stock down to the 20-21 range. Watch $24.19 up and $22.30 down.

Other Stocks to Watch :

First Trust DJ Global Select Dividend - FGD ( Unusual Volume )
Rentech, Inc. - RTK ( Unusual Volume )
GOL Linhas AĆ©reas Inteligentes S.A. - GOL ( New High )
Arcadia Resources Inc - KAD ( New High )
B&G Foods Inc. - BGS ( New High )
LodgeNet Interactive Corporation - LNET ( New High )
Natural Health Trends Corp. - BHIP ( New High )
Wyeth - WYE ( Breakout )
Rambus - RMBS ( Unusual options activity )
Amer Business Information - ABII ( New Low )
Tamalpais Bancorp - TAMB ( New Low )
Williams Coal Seam Gas Royalty Trust - WTU ( New Low )
Repros Therapeutics Inc. - RPRX ( New Low )
MetroPCS Communications Inc. - PCS ( New Low )
Human Genome Sciences - HGSI ( RSI Overbought )
RADIAN GROUP INC - RDN ( RSI Overbought )
FIDELITY NAT INF SVC - FIS ( RSI Overbought )
Brigham Exploration Company - BEXP ( RSI Overbought )

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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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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