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Monday, March 03, 2008 

Stocks to watch today - FSLR, RIMM, CNXT, SWC, VRSN, BAC , JPM

Chart courtesy of stockcharts

JPM - The stock broke support at $42 on Friday and broke below its 50 and 200 day moving averages over this month. In addition other technical indicators such as MACD and KD also show weak signal as MACD is below 0 and K line is dropping below D line. The JPM is looking ready to test its lows again in the next weeks.

Chart courtesy of stockcharts

BAC - Sideway channel broken. Trouble ahead. I don't think it will go up much. The question now is how deep will be the correction.

Chart courtesy of stockcharts

VRSN has been shifting from a down trend to a slight uptrend. On friday stock closed below its 20 and 50-day moving averages, so from a technical perspective a run to $34 ( bottom of the channel ) is very likely. MACD and KD also show weak signal as MACD near 0 and K line is dropping below D line.

Chart courtesy of stockcharts

SWC - Stillwater Mining broke out to all time highs. This is a hot buy from a technical perspective, however and at this point the stock is too extended for additional positions. Right now it is way too risky for a long position.

Chart courtesy of stockcharts

CNXT - Not a pretty picture. Descending triangle broken to the downside.

Chart courtesy of stockcharts

RIMM - I consider RIMM has broken out of the downtrend. Currently building base for the next up move. If it is able to break $112.26, first target $122.

Chart courtesy of stockcharts

FSLR - Long term uptrend. Still under correction. Possible support at $200.

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 weekend !!!


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buen trabajo, me gusta bastante tu blog y lo visito de vez en cuando.

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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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