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Monday, May 05, 2008 

Stock Picks and Trade Ideas for Tuesday - JOYG, HLIT, CGNX, AMD

Chart courtesy of stockcharts ( click to enlarge )

AMD - The stock has cleared its downtrend line that had been in place for three months. The stock dropped at the beginning of the year, rebounded, dropped again, and rebounded once more. Along the way, AMD traced a downtrend line, which it has been broken over today session, with a big rally. The momentum indicators have turned up and the RSI is on the rise. Although both 50 day and 200 day moving average are showing weakness, KD line is indicating upward swing and MACD back above the sell line. For the short term the stock should still continue to go up.

Chart courtesy of stockcharts ( click to enlarge )

CGNX - The stoc has consolidated above the breakout point and is starting defend support. Technically the stock is on a bull market as the stock is trading above both 50 day and 200 day moving average and 50 day moving average is on top of 200 day moving average heading upwards.

Chart courtesy of stockcharts ( click to enlarge )

HLIT - This chart of Harmonic is showing a very bearish MACD crossover to the downside. Could easily test recent low at $7. 40.

Chart courtesy of stockcharts ( click to enlarge )

JOYG - The stock looks like it started a breakout. Watch to see if it follows through tomorrow.

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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