Top picks for Friday - TRN and CSIQ
Chart courtesy of www.stockcharts.com ( click to enlarge )CSIQ is a stock that just 5 months ago made new all-time highs at $51.80 but failed to follow-through on the breakout and started to get some aggressive selling when the indexes received a sell signal. The stock has dropped almost $49 from the highs and in November of 2008 reached an amazing price of $3.11 per share. At this moment the stock is in a recovery mode trading at $6.91/share. Looking at the technical daily chart, the stock the near-term outlook is clearly bullish and a close above $7.20 would confirm this view. On the contrary, a close below 6.10 will have bearish implications and would push the stock to the Rs 5-5.17 range. Hold with a stop-loss at 6.10.
Chart courtesy of www.stockcharts.com ( click to enlarge )TRN is retesting the breakout area. Technicals are bullish signaling sideways to higher prices in the near term. Only a close below 16 will reverse the current uptrend. From the technical chart, MACD and RSI show bullish sign. I'm looking for a good trade if the prices close above 18.
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 Folks.
AC
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 Folks.
AC
