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Monday, February 25, 2008 

Stocks to watch tomorrow - JNPR, HPQ, AMZN, JASO

Chart courtesy of stockcharts

JASO - Daily chart above shows that it is still to early to say that the downtrend has ended. Stay tuned on her for a possible breakdown below the support level at $15.16 on a close basis.

Chart courtesy of stockcharts

AMZN - Not a pretty picture. The short term trend is still weak as the stock has been trading below 50-day moving average and 200-day moving average, with 50 day MA now going downward showing bearish signal. Stock still in downtrend mode. It is better to stay at the sideline and see how the stock react for the next few days as the stock has approached the pressure line of 20-day moving average. Shares were up 1.6% but with low volume, a clear signal of weakness to move up.

Chart courtesy of stockcharts

HPQ - The stock closed above its 200-day moving average of $47.76, which is a very bullish sign. From a technical perspective stock still looks bullish and there is no evidence we can see for a major correction just yet.

Chart courtesy of stockcharts

JNPR - Juniper shows a possible inverted head-and-shoulders pattern on the daily chart with a neckline at $28. We will have to wait and see. The big movement in the past few days tells me to be patient. Buy point is when it crosses the neckline at $28 on heavy volume.

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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