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Saturday, February 09, 2008 

Stocks to watch next week - BUCY, GOOG, RIMM, CNXT, RMBS, BIDU

Chart courtesy of stockcharts

BIDU continues to trade below its broken support line and below its 200-day moving average, leading us to believe that it may still have some downside ahead. However there is a hope for Bulls, stochastics are showing high oversold conditions, which may bring some buyers back.

Chart courtesy of stockcharts

Rambus shares have dropped recently after earnings report to previous levels before Bloomberg news. I have to admit that I had a good opportunity to sell and enter long again, but I'm not worry with this company, the current earnings report was not good and I have to confess that revenue also disappointment me, however there is something that can blow up this stock soon, the Hynix case. A possible victory in this case, according to experts is likely with 60% of probabilities, so I will keep my long position until the final decision and I promised to myself don't touch them, even knowing the risk that I will assume. I rated this stock in my portfolio with 4 stars medium-risk. Now technically speaking, stock could go either way from here depending on the markets mood. However, looking at the daily chart RMBS is in a neutral zone, suported now by its 20-day moving average. Please don't use my conviction as a recommendation to buy or sell, make your own decision.

Chart courtesy of stockcharts

CNXT hasn't broken the support line at $0.56 yet, but it is looking like it will.

Chart courtesy of stockcharts

RIMM continues to trade in a tight range between its 200 day-moving averge acting as support and its 20 day-moving average acting as resistance. Stock should have an explosive move to either direction next week, although I think a bullish move is more likely based on Friday session.

Chart courtesy of stockcharts

GOOG - Stock starts showing ‘buy' signals again. However after recent decline in share price, a good entry point will be onlye in a break of its $519 on heavy volume. Stay tuned on her.

Chart courtesy of stockcharts

It looks like BUCY is well positioned to test and take out its December highs. All of the indicators are bullish. Entry point will be on the day when stock breaks above $104.36 on heavy volume. It has a good support at $89.

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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