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Tuesday, January 08, 2008 

Trade Ideas for Wednesday - CIEN, ENER, FSLR, SPWR, LDK

Chart courtesy of stockcharts

LDK Solar shares were up more than 8% today with more than 4 million shares changing hands. For a day like today, this was a huge up side movement. Looking at the daily chart, stock has found a nice support around $40, stabilizing some of the recent losses. However, today movement might have surprised a lot of people who were waiting for a breakdown. So, stay tuned on LDK tomorrow, because a breakout of the downtrend line could be signaling a change of trend for this stock.

Chart courtesy of stockcharts

SPWR - It looks like this stock has confirmed my previous analyse, and retest of $100 is now more likely. MACD has issued a bearish signal, since the FastMA has just crossed below the SlowMA.

Chart courtesy of stockcharts

I would not be surprised to see stock drop back tomorrow to $220 area. RSI is in bearish territory. The short term trend is DOWN. Exit short positions only if stock breakout above $253.76.

Chart courtesy of stockcharts

Energy Conversion Devices have found support on its 50 dma. If that support is broken, then the stock should retreat to $26.50 level.

Chart courtesy of stockcharts

Ciena (CIEN) dropped below $30.00 support levels quite recently, but it doesn't seems that company may have bottomed out in the short term. The chart is ugly, like many others. Looking at the daily chart, stock has support now only at $26.09 and next at $24.75.

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 !!!

AC

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  • I'm a 47 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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