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Tuesday, August 11, 2009 

Trade Ideas for Wednesday - First BanCorp and Rambus

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

FBP is still finding it difficult to move above its 50-day moving average. Fresh buy should be initiated only when the stock moves above this line of resistance now at $4.09. Technicals have turned bullish signaling sideways to higher prices possible in the near term. MACD and KD show the stock is currently showing strength to the trend.

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

RMBS - The near-term outlook is bearish. All other indicators still point to a bear market and a possible move down. A drop to the $14.50-15 level appears likely. Remain invested with a stop loss at $14.82. Only a move past $16.10 would impart a positive short-trend. There is no compelling reason to take fresh long positions at current levels.

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. See you tomorrow !!

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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