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Thursday, April 16, 2009 

Hot stocks for tomorrow - Google and Evergreen Solar

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

ESLR - For the short term, it is consolidating inside a symmetrical triangle with resistance at 2.37. Breakout point is 2.4. Target price is 3.15. MACD is currently bullish and RSI is just halfway from being overbought. Average volume is around 4M, a good breakout volume is around 6M shares. Sideways consolidation is actually good for the stock at this point as a breather from the recent upward move.

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

Google shares gained ground in after hours after reporting better than expected results. This could be a positive factor for the market tomorrow. The Mountain View, Calif.-based Internet giant said Thursday its first-quarter net income rose to $1.4 billion, or $4.49 a share, from $1.3 billion, or $4.12 a share in the same period a year earlier. Google said net revenue for the period ended in March came in at $4.07 billion. Excluding special items, Google said earnings for the quarter were $5.16 a share. Looking at the technical daily chart the stock broke out a recent resistance mark and todays move also broke its short term ascending triangle. I think its very possible we could see this move to 450 - 460 in the near term.

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 tomorrow !!!


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About Me

  • I'm a 47 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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