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Tuesday, March 31, 2009 

Stocks to watch Tuesday - Yahoo, Powerwave Technologies and Rambus

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

YHOO - It looks like a small bearish rising wedge pattern broken on the Yahoo chart. The pattern seems to have had a downside breakout. The breakout volume in my opinion was not large enough. However, when a validated trendline gets broken, it tends to have some significance. The breakdown put a target of 11.75 in play.

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

PWAV - The stock broke the descending traingle on Friday and has moved decisively to the upside. That’s a powerful sign that high prices are likely to persist. Long positions may be considered on price weakness, with a stop-loss at 0.39.

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

RMBS - The stock is simply telling me that this is a nice healthy pullback after a big run. The trend should resume back up in the very near future. The technical chart is also showing declining volume but stock has a Bullish outlook. I could be wrong, but I did not find a reason for the drop in shares as it did. It was likely a consequence of the negative market environment.

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. See you later.


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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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