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Tuesday, April 15, 2008 

Stock Picks and Trade Ideas for Tuesday - GRRF, DNDN, NTRI, NVDA, CYTV

Chart courtesy of stockcharts ( click to enlarge )

CYTV ( Requested by Denise ) - The stock is having trouble to cross through the 20 day moving average since mid February. Technically in downtrend. But hard to intepret the next possible move. Furthermore, it is moving really slow. It's strange that the stock has basically gone nowhere since the begin of the month, moving into a sideways pattern. Hold with a stop-loss at $0.055.

Chart courtesy of stockcharts ( click to enlarge )

NVDA - Not a pretty picture. Stock in a downtrend mode. Major support is now at $17.31. The stock is still in very weak market as 50 day moving average is still declining and RSI is still below 50.

Chart courtesy of stockcharts ( click to enlarge )

NTRI has confirmed my previous analyse. From here we can expect a run to the $19.90 area and from there we could see an explosive upsurge to $23 and better. Stay tuned.

Chart courtesy of stockcharts ( click to enlarge )

DNDN - This stock is sitting right around the 50 dma. This stock has some support around the $5.25 range. Any close below support at $5.25 would be highly negative and DNDN may move towards short term support zone of $5. Traders should continue to remain ruthless and stick to their pre-defined stop loss and targets. Hold with a stop-loss at $5.

Chart courtesy of stockcharts ( click to enlarge )

Here is another stock that I'm still watching closely, China Grentech GRRF. The company manufactures and sells wireless products and services to telecommunication companies inside China. This is a micro-cap stock that is a speculative play on a wireless trend inside China that likely will prove to be a national trend for many years to come. It currently has $30 million in cash and a forward price-to-earnings ratio of 7. I'm watching closely and will likely take a position in. It could ignite shares at any time, and provide some great short-term trading. Technically speaking, the stock is still trading within an upward channel. The share price is now perched just above the crucial support level at $5.08. A close below this level would spell weakness. This could result in a drop to the $4.50-$4.25 range subsequently. A close above $6 ( 50 dma ) would negate the bearish outlook and provide an upward momentum to China Grentech. Stay tuned on her.

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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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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