Stocks to watch for Wednesday June 30

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Shares of Gigamedia soared 12.44% or 27 cents to $2.45 per. The technical daily chart shows the stock is in a rally as K line is rising on top of D line as the price is back above 20-day moving average. In addition, the short-term downtrend line has been broken. At this stage, we can expect to see higher prices in the weeks to come. Another bullish indicator is the MACD which has made a cross over and bullish momentum has returned to the stock. The stochastics have turned up and RSI is now back in a neutral position. All short-term indicators are in upward path.

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Shares of Nokia have been in a steep decline since April, falling more than 45% from its highs near $16 per share. The technical chart pattern does not inspire confidence and NOKIA's stock could continue its downward trajectory. In addition, the daily price chart also shows a dead cross where the 50-day moving average crossed below the 200-day moving average, signaling the beginning of a bear market trend. With this in mind, any rally attempt must be considered a bear market corrective rally and not the start of a new bull market trend. Thus, the major direction of this stock is still in the downward direction. Next support for Nokia shares is only at $7.77.

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MSFT's stock is like a falling knife, it keeps falling and falling. Technically, the chart looks horrible and the short-term trend is bearish, but the stock is now in oversold conditions and may rise back soon. Stay tuned.

New 52-week Low stocks

XOM - EXXON MOBIL CORP
YHOO - Yahoo! Inc
RIMM - Research in Motion
QCOM - QUALCOMM Incorporated
NOK - NOKIA CORP
WAG - WALGREEN CO
SCHW - Charles Schwab Corp
AKS - A K STEEL HOLDING CORP
ERTS - Electronic Arts Inc.
WU - Western Union
AMTD - TS Ameritrade Holdings
MON - Monsanto Co
JCP - PENNEY J C CO INC
PBCT - People's Bank
SVU - SUPERVALU INC
KBH - Kaufman and Broad H
JNS - Janus Capital Group
MOS - Mosaic Co
MFC - MANULIFE FINANCIAL
APOL - Apollo Group, Inc.
PDE - PRIDE INTL INC
BKS - BARNES & NOBLE INC
COCO - Corinthian Colleges
IM - INGRAM MICRO INC
TIVO - TiVo Inc.
MFE - MCAFEE, Inc.
ORITD - Oritani Financial Corp
AFFY - Affymax Inc
CCJ - CAMECO CORP
MYGN - Myriad Genetics, Inc.
ES - EnergySolutions Inc
SONC - Sonic Corp.
WDR - WADDELL & REED FINL
TDW - TIDEWATER INC
BRKL - Brookline Bancorp
VE - VEOLIA ENVIROMENT ADS
ONXX - ONYX Pharmaceutical
ESI - I T T EDUCATIONAL SVCS
TM - TOYOTA MOTOR CORP
IPI - Intrepid Potash Inc

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Good luck to all,

AC

Labels: GIGM, MSFT, NOK