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Monday, March 03, 2008 

Trade Ideas for Tuesday - INTC,TXN, APOL

Chart courtesy of stockcharts

INTC - Looking at the daily chart, INTC is forming a descending triangle. Price movement has respected the resistance line on 5 occasions. If the descending triangle holds in the next sessions and price breaks down, price may move further down to $18 level. So, pay particular attention to $19.51 support.

Chart courtesy of stockcharts

TXN is moving in a downward channel. A downward channel is being formed with lower lows and lower highs which is a feature of a down trend in progress. MACD fast line is about to cross slow line. Stochastic is Bearish, with K line below D line and moving down. With K line below D line this is still not the time to buy the stock.

Chart courtesy of stockcharts

APOL - From chart stock has broke long term uptrend line and will soon hit $53. MACD and RSI are both in Bearish zones. Banc America analysts downgrade stock to Sell.

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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