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Monday, March 10, 2008 

Trade Ideas for Tuesday - LVLT, RFMD, BRCM, BIDU

Chart courtesy of stockcharts

BIDU - The symmetrical triangle could be broken to the upside, when it is with heavy volume, that is the time to buy.

Chart courtesy of stockcharts

BRCM is moving within a downward channel which has to be broken before I am convinced that a rally on stock has any legs to go forward. The overall picture is ugly, all indicators pointing for the same way, down. The stock is still in weak market as MACD is still below 0 and 50 day moving average is below 200 day moving avaerage. Unless there is a clearer sign from KD, this is not yet a good time to buy the stock.

Chart courtesy of stockcharts

New Highs on Crude, everyday the same scenario. Speculators still pushing this commodity to the sky, trying for all ways smash the US economy with high energy prices. We trade in a free market, but for things like this, seems to me too strange this movements. Now looking at the technical picture, crude has now reached the Overbought territory, time for profit taking.

Chart courtesy of stockcharts

Last week I have mentioned here that RFMD could be a good stock to have in portfolio, due to many factors. Early in the morning company surprised investors with a report that forecasts a strong growth in calendar year 2008 for its portfolio of open market solutions targeting emerging markets. In calendar year 2008, total handset sales are expected to exceed 1.2 billion, and the demand for emerging market handsets is expected to significantly outpace the overall rate of growth of handset sales. Accordingly, RFMD forecasts sales of its RF3198 and recently announced RF4180 PowerStar(R) front ends will accelerate in 2008 and extend the co's cellular front end leadership position in GSM/GPRS emerging market handsets. Stock has a strong support at $2.80, level which I don't think be possible to be broken, due the latest news, but let the markets decide.

Chart courtesy of stockcharts

Shares of Level 3 Communications have sunk to a new 52-week low on today's news, down about 14% to $1.87. Company said Monday its co-founder Kevin O'Hara is resigning as president and chief operating officer. Looking at the daily chart the picture is not famous, stock broke the major support of $2.06 level. The stock has been on down trend since mid October and has also entered into bear market in February with MACD dropped below 0. This is not a good time to buy the stock as it is still in downtrend, wait for a good indication.

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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