Trade Ideas for Wednesday, August 1
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Brocade Communications Systems, Inc. (NASDAQ:BRCD) continued trading
above the short-term moving averages. The technical indicators still
indicate a bullish tone in short-term. The support level is located at
$4.74 and the resistance is still at $5.02.
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With today's move, InterDigital, Inc. (NASDAQ:IDCC) shares are back over
the 13-day moving average which I've been waiting on to add the name
back to the portfolio again.
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Frontier Communications Corp (NASDAQ:FTR) had a significant bullish momentum today made a strong break out above
its 50-day moving average as you can see on my daily chart,
which is very bullish. The stock is again setting up for a potential
swing trade. From a technical perspective the MACD Histogram and stochastic
oscillator have turned up and RSI is again moving upward. Next
resistance is located at $4.05
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First Solar, Inc. (NASDAQ:FSLR) was a big winner on Tuesday as the stock
ended up $1.33 on the day. I will be watching the stock on Wednesday
for a continuation move through Tuesday’s highs of $15.59. Although this
trend is encouraging the near-term outlook stays cautious till the
stock closes conclusively above 16.42 on heavy volume.
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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.
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.
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AC
