Stock Market Alerts for Wednesday

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Gigamedia looks strong enough to move forward. I'm encouraged by the fact that the stock bounced off support of the 13 day moving average yesterday and surged nearly 5% today with good volume. The stock has the potential for a strong follow through, so watch it closely on Wednesday.

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LVLT is still facing resistance around 1.68. The technical daily chart is showing some bullish bias. On Balance Volume is increasing, indicating accumulation of shares in the market. The 50 SMA on the daily chart (see chart above) has been holding the stock on a smooth uptrend for a few weeks now. The price can head towards the $1.68/1.70 zone. If this zone is surpassed, getting to 2.42 would be a possibility. Add to your position once there is a close above 1.7.

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LIFE recorded a new high in the last trading session. The stock topped at 53.53 and closed at 53.42, up 0.29 cents (+0.5%) on volume of 1.39 M of shares. From a technical standpoint, the stock offered an intraday buy signal, but for longer term trades I’d rather wait for a few daily closes above that level to confirm the upward continuation. Resistance levels lay at 53.53 (todays high) and 53.83. Supports: 52.75 (previous resistance) and 52 (psychological).

Other Stocks to Watch :

The daily chart created a bullish engulfing candlestick formation on Tuesday

NVDA - NVIDIA Corporation
PBR - PETROLEO BRASILEIRO SA
UNH - UNITEDHEALTH GROUP INC
TLAB - Tellabs, Inc.
DHI - Horton DR Inc
WDC - WESTERN DIGITAL CORP
TOL - TOLL BROTHERS INC
MYL - Mylan Inc
IDTI - Integrated Device T
BMC - BMC Software Inc
AMX - America Movil SA
CMVT - Comverse Technology
TSN - TYSON FOODS INC CL A
ATHR - ATHEROS COMMUN INC
SAP - Sap Ag
FL - Foot Locker Inc
EWY - WEBS South Korea
CNP - CenterPoint Energy Inc
CPWR - Compuware Corporation
RDN - RADIAN GROUP INC
NVLS - Novellus Systems, Inc.
SRE - SEMPRA ENERGY
CBE - Cooper Inds Plc
CEPH - Cephalon, Inc.
NFLX - Netflix, Inc.
RNWK - RealNetworks, Inc.
TAP - ADOLPH COORS CO
WSM - WILLIAMS SONOMA INC
QCOR - Questcor Pharm
AOL - AOL Inc 25
CVVT - Intercontinental Re
OC - Owens Corning Inc
BBVA - BANCO BILBAO VIZCAYA
PAY - VeriFone Holdings Inc
CATY - Cathay Gen Bancorp Inc
SWSI - SUPERIOR WELL SERVICE
XRTX - XYRATEX LTD
PPDI - Pharmaceutical Prod
SMTC - Semtech Corporation
AAP - ADVANCE AUTO PARTS INC
SLAB - Silicon Laboratories
TSCO - Tractor Supply Company 60
MPW - Medical Props TR
TWTC - Tw Telecom Inc A
MXB - MSCI Inc
KMX - CarMax Inc
GPC - GENUINE PARTS CO

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.

AC

Labels: GIGM, LIFE, LVLT