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Tuesday, February 05, 2008 

Trade Ideas for Wednesday - RMBS, ILMN, FSLR

Chart courtesy of stockcharts

FSLR - The 20-day moving average still acting like a barrier (resistance), blocking any rally. The moving average has becomes an important resistance zone. If the advance falters, this would then suggest that another down leg is likely.

Chart courtesy of stockcharts

ILMN - Illumina shares surged sharply on Tuesday session by 10.19 percent.The technical chart above shows the buyers are back and a possible test to all time highs is very likely. The long term trend is still bullish as the stock is still on top of 50 day and 200 day moving average with both moving averages going up.So, keep an eye on her.

Chart courtesy of stockcharts

RMBS - Rambus were down nearly 10% today to $18.18 after company after it said it swung to a fourth-quarter loss on a drop in sales. Looking at the daily chart, if $18 major horizontal becomes firm and sustained support, the stock should test again its 50 dma, is simply a question of time. Although we have seen a huge drop today, the overall picture on stock still Bullish as the 50 day moving average is on top of 200 day moving average and MACD still above the sell signal. So, stay tuned on RAMBUS before sell stock at this level.

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 great 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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