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Thursday, April 17, 2008 

Stock Picks and Trade Ideas for Friday - SIGM, NTRI, RFMD, GOOG, LVS

Chart courtesy of stockcharts ( click to enlarge )

LVS has been in a corrective phase since the beginning of this year along with the rest of the US equities. LVS was a nice play on the short side after have broken the support line this week, however it looks like there is more downside here. Short term momentum indicators, like MACD, RSI, Stochastics are substantially oversold but have yet to show technical signs of a recovery.

Chart courtesy of stockcharts ( click to enlarge )

Google on Thursday posted a better-than-expected profit. Company said first-quarter net income rose to $1.31 billion, or $4.12 per diluted share, from $1 billion, or $3.18 per share, in the year-earlier quarter. Excluding one-time items and stock option expenses, profit was $4.84 a share, ahead of the average Wall Street forecast of $4.53 per share. Shares past the $500 mark in extended trade. So be prepared for a gap up tomorrow morning. The 200-day moving average should act as the first resistance level. It will be a fantastic day for longs......

Chart courtesy of stockcharts ( click to enlarge )

RFMD was one of the stocks that was definitely affected by the NOKIA earnings. However the drop and volume don’t mean something bad as I initially thought, this could be a good indication that sellers are now convinced that bad news are already well discounted. RFMD has formed a symmetrical triangle with resistance at $2.95. The stock is now in a short term bullish momentum, after it has past the 5 day MA and MACD is now above the signal line. Average volume is around 4M, a good break out volume should be above 9 Millions.

Chart courtesy of stockcharts ( click to enlarge )

NTRI - On a shorter-term basis, the stock NTRI is displaying a bull-flag pattern. Confirmation of this pattern will take place when stock moves above the upper line. Watch NTRI closely on Friday.

Chart courtesy of stockcharts ( click to enlarge )

SIGM - Sigma Designs has a mixed technical profile at the present moment. Intermediate trend is down. The stock recently broke below its 50 and 200 day moving averages. Short term momentum indicators are substantially oversold and are now showing technical signs of recovery. The break of the resistance line at $20 with heavy volume should be the next buy point on SIGM.

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 day !!!


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Very interesting picks, i will keep an eye on them. What do you think of AIVN?

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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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