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Friday, December 11, 2009 

Stock Picks for next week - Rambus , Curis and Motorola

( click to enlarge )

The technical daily chart of Motorola is showing that the stock is trading in a tight range and I think it is getting ready to break. The resistance point is 8.61. You can see from the chart that the overhead resistance has been hit twice before, but not penetrated. All oscillators are floating on neutral territory without a distinct price direction. Nevertheless, there is a very strong bullish cross forming on the daily Stochastic which indicates a possible violent bullish move. The technical daily chart is supporting the bullish notion and it appears that the fresh bullish momentum is growing. Going long might be a preferable strategy next week week. MOT is definitively a stock that will make a move.

( click to enlarge )

Rambus stock has been in the process of consolidating an early December breakout and has weathered the recent pullback without too much chart damage. It is actually pretty close to year highs. I'm looking to see if RMBS can close over 22 which should lead to further strength. So far the technical chart is still showing buy signal with stock trading above 50 day moving averages with MACD on top of signal line and K line on top of D line. If the markets get a Santa Claus rally, then I feel RMBS will easily make new highs.

( click to enlarge )

CRIS held up pretty well in a weak week. It just hit new all time highs a few weeks ago ( $3.09 ) and the subsequent pullback has been rather tame. It looks like the stock is in a well defined trading range and it's worth watching to see if it can break through the range soon. If the markets show some strength the next week, then CRIS could have enough strength to clear $3 and then test the recent highs at $3.09. In addition, the Chain Money Flow indicator in the chart is showing very bullish money flows, which means that systematic buying is going on even though the price has been pulling back. Stay tuned on CRIS.

Other Stocks to Watch :

Stocks that have a Bullish Engulfing pattern at the end of their daily chart.

FTR - Citizens Communication
CEMJQ - Chemtura Corporation
CMA - COMERICA INC
CB - CHUBB CORP
WNR - WESTERN REFINING INC
PMI - P M I GROUP INC
HSC - HARSCO CORP
KERX - Keryx Biopharma
PSA - PUBLIC STORAGE INC
RGC - Regal Entertainment
CMO - CAPSTEAD MORTGAGE CORP
SUG - SOUTHERN UNION CO
RNR - RENAISSANCE RE HLDG
BRE - B R E PROPERTIES IN
VRSK - Verisk Analytics
PEB - Pebblebrook Hotel T
ONB - OLD NATIONAL BANCOR
IRET - Investors Real Esta
BXS - BANCORPSOUTH INC
WES - Western Gas Partner
ID - Viisage Technology

Stocks that have a Berish Engulfing pattern at the end of their daily chart.

RIMM - Research in Motion
QCOM - QUALCOMM Incorporated
KR - KROGER CO
ITUB - Itau Unibnco Adr
SYMC - Symantec Corporation
PALM - Palm, Inc.
GS - GOLDMAN SACHS GROUP
QLD - Ultra QQQ Proshares
GGWPQ - GENERAL GROWTH PROP
KG - KING PHARMACEUTICAL
BTU - PEABODY ENERGY CORP
EGO - ELDORADO GOLD CP
LNC - LINCOLN NATIONAL CORP
CAR - Avis Budget Group Inc
ACN - Accenture Plc
TEVA - Teva Pharmaceutical
RDC - ROWAN COS INC
JDSU - JDS Uniphase Corporation
CTSH - Cognizant Technolog
PXP - Plains Exploration
MTL - MECHEL OAO
CNX - CONSOL Energy Inc
ADP - Automatic Data Process
PDE - PRIDE INTL INC
VIP - Vimpel Communication
ILMN - Illumina, Inc.
LRCX - Lam Research Corporation
CMI - CUMMINS ENGINE CO INC
CTXS - Citrix Systems, Inc.
CRM - SALESFORCE.COM INC
OI - OWENS ILLINOIS INC
VRTX - Vertex Pharmaceutical
FTO - FRONTIER OIL CORP
EGLE - Eagle Bulk Shipping
CNI - CANADIAN NATL RAIL CO
HSP - HOSPIRA INC
AMSC - American Superconductor
CRL - CHARLES RIVER LABOR
DTG - DOLLAR THRIFTY AUTO
ATW - ATWOOD OCEANICS
JRCC - JAMES RIVER COAL CO
ECL - ECOLAB INC
VRX - I C N PHARMACEUTICAL
BDK - BLACK & DECKER CORP
MYGN - Myriad Genetics, Inc.

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. Have a nice weekend !!!

AC

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  • I'm a 38 year old Independent Trader using propriety 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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