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Monday, January 26, 2009 

Trade Ideas for Tuesday - STX, VOLC, ZIGO

Chart courtesy of www.stockcharts.com ( click to enlarge )

VOLC - Looking at the technical daily chart the stock is clearly in short-term downtrend. There are no signs of a recovery in stock price. The average daily trading volume needs to exceed 500.000 of shares. If a stock trades too thinly, chart analysis doesn't help much, because there just are not that many traders involved. One big buy or sell order can move the stock in ways that chart analysis just cannot predict. At the present moment, there is a risk of a drop. Stop-loss for long positions may be placed at 12.89. On the upside, a close above 13.70 would impart bullish momentum.

Chart courtesy of www.stockcharts.com ( click to enlarge )

ZIGO - Looking at the daily chart the stock has broken all medium term supports, and appears weak. On the upper side, immediate resistance is at 6. The next resistance is at 6.50 ( 50 dma ), and long position should be taken only above that level.

Chart courtesy of www.stockcharts.com ( click to enlarge )

STX has recovered from its earlier low of 2.98. The current rally should at least push the stock to 3.67 per share where the major resistance is. The stock needs to close above this level to indicate a continuation of the rally off this month’s low. If this rally fails, there’s downside risk to support around 3.

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. See you tomorrow !!!


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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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