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Wednesday, September 12, 2007 

Trade Ideas for Wednesday - GRMN , ARNA , SIRI , NOK

Chart courtesy of stockcharts

NOKIA - Looking at the daily chart the Bullish picture persists for now, overbought condtions, MACD Bullish, K line on top of D line, 50 dma and 200 dma going up. However according to the latest candle showed in the chart we may see some profit taking tomorrow, but I think only tomorrow, because this stock is really showing a strong investor confidence.

Chart courtesy of stockcharts

GRMN may be ready to breakout !!
Looking at the chart stock has had a nice run over the past few months and again stoped at the major resistance $108. I'll be Bullish in this stock if breakout this area.

Chart courtesy of stockcharts

ARNA have found support in its 20 dma after failed breakout. Bearish MACD crossover, so looks likle it will test its 200 dma support.

Chart courtesy of stockcharts

Shares of Sirius Satelite closed up nearly 5% to $3.31 breaking out major resistance of $3.28, and for the first time since the begin of the year above its 200 dma. I'm now Bullish on Sirius, resistance above is now at $3.56 and first support at $3.28.

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. Have a nice evening !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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