Trade Idea for Thursday - JDS Uniphase
( click to enlarge )JDSU found support on Wednesday as buyers came in and bought the stock as it bounced off lows. The stock traded higher volume on Wednesday, which leads us to believe the buying will continue on Thursday. Although the moving average still shows weakness as 50 day moving average is below 200 day moving average, positive momentum seems to be back as the stock is back above 5 day moving average. In addition KD shows possible rally as K line is on top over D line.
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 later !!!
Cheers!
AC
Labels: JDSU
