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Wednesday, December 19, 2007 

Trade Ideas for Thursday - WYNN, LDK, ORCL

Chart courtesy of stockcharts

Shares of Oracle are trading higher (+6%) in after-hours after company said on Wednesday it expects third-quarter new software license sales to increase 15 percent to 25 percent from a year earlier. It also forecast that net profit will total 29 cents or 30 cents during the quarter. Following the investors reaction in the extended trading, we should see a gap-up on tomorrow above $22, so it will be important an interesting also, see if stock will have legs to close above this mark, because it has been a key resistance for Bulls.

Chart courtesy of stockcharts

LDK shares were down more than 5% to $66.11 today. In my opinion, stock could retrace some points from here to $60, in the near term, it is only a long option on the break of $76, till there looks like it may find a support at the breakout area. Keep in mind that presently stock is trading in Overbought conditions.

Chart courtesy of stockcharts

WYNN shares have found a good support in its 200 dma. I'll be Bullish on stock again after a close above its 13 dma at $120. Keep an eye on her.

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 example.

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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