Stock Picks for Wednesday - Ambac Financial Group, Rambus and Research In Motion Limited

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ABK is in a good medium-term uptrend. The price has bounced off the low of 0.73 touched in late July. The price can head towards the 1.89-1.98 zone. If this zone is surpassed, getting to 2.18 would be a possibility. Add to your position once there is a close above 1.89. On the contrary, the key support for the stock is at $1.71. Closing below this levels are bearish for the stock as it could pullback to retest $1.56.

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In the short term, Rambus is still trading within an uptrend channel. The stock is sitting exactly on its 5 day-moving average at $17.17. Resistance is seen at $17.82 and $17.96. The key support for the stock is at $16.65. Closing below this levels are bearish for the stock as it could pullback to retest $15.68. So far the technical daily chart is still showing buy signal with stock trading above the major 5moving averages. Uptrend still relatively intact. The stock ended the day mixed but with a positive bias. I'm still bullish on the stock.

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RIMM had a strong bounce off the 66.56 level accompanied by a nice pickup in volume. Hopefully that trend continues. The price may rise to the 70-71.50 range in the short-term.

Other Stocks to Watch :

Today's candlestick pattern was a Bullish Engulfing

AUY - YAMANA GOLD INC
NIHD - NII Holdings Inc
FL - Foot Locker Inc
MBT - MOBIL TELESYSTEMS
TXRH - TEXAS ROADHOUSE INC
DV - DEVRY INC
LOOP - LOOPNET INC
EVEP - EV Energy Partners LP
EXK - ENDEAVOUR SILVER
SPWRB - SunPower Corp
PETS - Petmedexpress.com Inc
FCN - FTI Consulting Inc
BPZ - BPZ Resources
KR - KROGER CO

Today's candlestick pattern was a Bearish Engulfing

CTIC - Cell Therapeutics
USB - US Bancorp
AET - AETNA INC
AMAT - Applied Materials
ALU - ALCATEL
HD - HOME DEPOT INC
COMS - 3Com Corporation
GPS - GAP INC
V - VISA Inc
WLP - Wellpoint Inc
CAT - Caterpillar Inc
PEP - PEPSICO INC
LUV - SOUTHWEST AIRLINES CO
MFA - Mfa Financial
SWKS - SKYWORKS SOLUTNS
GGB - GERDAU USA
ADI - ANALOG DEVICES INC
SYY - SYSCO CORP
MOS - Mosaic Co
UPS - UPS
QSFT - Quest Software, Inc.
AMT - AMERICAN TOWER CORP
SVNT - SAVIENT PHARMS
NSC - NORFOLK SOUTHERN CORP
ALD - Allied Capital Corp
KMB - KIMBERLY CLARK CORP
THQI - THQ Inc.
RRC - Range Resources Corp
DF - DEAN FOODS INC
BEBE - bebe stores, inc.
HNT - Health Net Inc
IRBT - IROBOT CORPORATION
PGN - Progress Energy Inc
UQM - Unique Mobility Inc
BEAT - CardioNet Inc
MDCO - Medicines Company

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

Labels: ABK, RIMM, RMBS