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Tuesday, March 18, 2008 

Stocks to watch Tuesday - JPM, FSLR, CNXT, PEIX, BUCY

Chart courtesy of stockcharts

BUCY - Macd Fast line crossed below macd slow line, above 0. Stock coming out of a uptrend. Stock may hit short term support levels, however any pull back would mean buying opportunity because the stock is still trading in a bull market with 50 day moving average above 200 day.

Chart courtesy of stockcharts

CNXT - Conexant is very close to bottoming. Whether its a short term bottom or something more open long positions here could be a good option for a swing trade. At these level this stock can go either way, however the volume is picking up which is a good signal, probably a signal of accumulation with The Chaikin Money Flow oscillator moving up too. When the Chaikin Money Flow value is greater than zero it is an indication of buying pressure and accumulation when the indicator is positive.

Chart courtesy of stockcharts

PEIX - Not a pretty picture. Stock in a downtrend mode. Major support is now at $4.25.

Chart courtesy of stockcharts

FSLR - Nice symmetrical triangle. Buy point is when the upper line is broken on heavy volume.

Chart courtesy of stockcharts

JPM had a very bullish move today breaking several resistance lines with large volume.. Although the stock is still weak as MACD is below 0 and share price below the major moving averages, indicator KD shows positive sign as K line is now back above D line. I'd buy it when it breaks the short downtrend line 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 great evening !!!


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great! thanks for sharing!

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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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