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Tuesday, September 01, 2009 

Stock Market Ideas for Wednesday - Potash , The Mosaic Company and RF Micro Devices

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

POT has good support at $85.74 ( 200-dma ). If it falls below this level, then it can possibly go down to $75 area. Looking at the daily chart, the MACD continues below its signal line, showing a clear evidence of a Bearish trend. Short term momentum indicators, such as RSI and Stochastics are substantially oversold but have not yet showed technical signs of a recovery.

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

RFMD - The stock closed fractionaly above the major support at $4.47, but any close below this level could have further negative implications for the stock, and a move to $4 cannot be ruled. It is better to stay at the sideline and see how the stock react for the next few days as the stock has approached the pressure line of 50 day moving average and also is coming back to test support at the previous breakout area. Keep a close eye on RFMD for the next few trading sessions.


MOS - From a technical standpoint, I still think the stock will fill the gap and trade back into 45 area. The technical indicators continue to show signs of weakness.

Other Stocks to Watch :

ArcSight Inc. - ARST ( Record Price Break Out )
America's Car-Mart, Inc. - CRMT ( Record Price Break Out )
Cell Therapeutics, Inc. - CTIC ( broke down the 50 day moving average )
Fulton Financial Corp. - FULT ( Recent Insider Buying )
Valley National Bancorp - VLY ( Recent Insider Buying )
Rock of Ages Corp. - ROAC ( Recent Insider Buying )
Unifi Inc. - UFI ( Recent Insider Buying )
Trailer Bridge Inc. - TRBR ( Recent Insider Buying )
Old Point Financial Corporation - OPOF ( Recent Insider Buying )

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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