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Tuesday, April 08, 2008 

Trade Ideas for Tuesday - JNPR, FSLR, LRCX, KLAC

Chart courtesy of stockcharts

KLAC - This stock has been is on a remarkable run since mid March. The long term trend is turning positive as the stock is back above 50 day moving average. However since RSI is approaching overbought level there may be chance of short correction and for now $44 level will be hard to break.

Chart courtesy of stockcharts

LRCX - Chart is printing a strong Bullish movement after stock has broken the key resistance area of $13.31. However in short term we should see a small pull back, due to the overbought conditions in some indicators. Previous resistance at $43 is now support and a good point of entry.

Chart courtesy of stockcharts

FSLR has broken out today and made a new 52 week high during regular session, however shares fell well below of their highs by the end of the day, to finish at $272.25. Let's see tomorrow reaction after intraday breakout. Looking at the technical chart the only important remark that should be considered is the indicator KD that is somehow negative as K line has dropped below D line.

Chart courtesy of stockcharts

JNPR - The stock broke support of $24 today. JNPR can continue going down, because there is no supports below. Unless the JNPR can recover above the resistance at $24, the technical outlook for the stock will be bearish and we should reduce our exposure. Looking at the daily chart, it shows very bearish sign as the 50 day moving average has crossed below 200 day moving average around February forming the Death Cross. Plus, other technical indicators such as MACD and KD also show sell signal as MACD is below signal line and K line is dropping below D line. Hard to say how far down it will go, since that depends on the strength of any selling.

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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