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Sunday, January 20, 2008 

Stock to watch next week - RIMM, GOOG , CNXT, ADCT, AUXL, JASO

Another trading week has gone and more bad numbers investors have to record. Investors, who have started the year looking for a rebound, have been strongly punished again with the continuation of the declines in the share prices. The uncertainties behind the credit market, macro economic numbers and the earnings report from the big companies like Intel, have brought more reasons for the table to think in a recession scenario in the months to come. So, the question that I would like to put here for you folks is? Will be next week the start of the promised rebound or will be another stressfull week where Bears will completely control the market again? Please send me your tips to share with the others, who are always looking for some orientation to make the right choices in the market. Enjoy your weekend and for some hours forget the rest !!!

Chart courtesy of stockcharts

JASO appeared to be consolidating at these levels after the highs in December, but when the short-term downtrend broke the long-term uptrend, JASO gaves the first sell signal. If support is broken at $55 during next week, then expect a move to $50. Within this volatile enviroment It's better to stay on the sideline now until the buy or sell signal is more clear.

Chart courtesy of stockcharts

AUXL uptrend is trying to break resistance at the $31.25 level. If resistance is broken, then there is no resistance above. AUXL has limited downside risk with support at the $28.35 level.

Chart courtesy of stockcharts

In the last trading sessions, the stock found resistance at around $14.48 ( 20 dma ) and declined. This is usually a negative signal. The only positive sign is MACD which shows the stock may be on a bounce back rally. Wait for the confirmation. Buy point will be when the price breaks $14.48 mark on heavy volume.

Chart courtesy of stockcharts

CNXT established a bottom around $0.57. The recent spike upward has broken the short-term downtrend at $0.65. If CNXT breaks resistance at $0.75 ( 20 dma ), then it becomes a buy. Indicators starting to turn up here, and the fast line crossed over the slow line over this week. Stay tuned on her. Earnings report on Thursday.

Chart courtesy of stockcharts

Google broke below support or $622 in a big way over this week, so now $622 becomes resistance. With today's relatively high volume suggests around $600 the possibility of an upside is likely.

Chart courtesy of stockcharts

RIMM - Looking at the daily chart above stock has major support at $85, but also strong resistance at $82.10 on its 200 day moving average. Chart also shows weak sign as the stock is below both 13 day and 50 dma with MACD well below 0. However KD shows possible rally as K line is now a bit on top of D line.

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 weekend !!!


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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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