Hot stocks for Thursday - Cisco Systems and Gigamedia
Chart courtesy of www.stockcharts.com ( click to enlarge )GIGM has just closed above its 13-day moving average and is almost touching its 200-day moving average. The short-term uptrend is intact and signals further bullishness on this stock. However is important to note that in the past two weeks the stock has faced a severe resistance at the 7.10 level. So, I recommend fresh exposures only when the stock breaches this resistance.
Chart courtesy of www.stockcharts.com ( click to enlarge )Cisco Systems climbs in after-hours after the company reported a fiscal third-quarter profit of $1.35 billion, or 23 cents a share, compared with a profit of $1.77 billion, or 29 cents a share, for the year-earlier period. Excluding the cost of stock-based compensation and other items, Cisco's earnings are 30 cents per share, 5 cents above the average forecast of analysts. This stock has been in a nice uptrend since March. Looking at the technical daily chart the stock is trading above both 50 day and 200 day moving average. Other technical indicator such as MACD, is above "0" showing positive momentum while KD line also show buy signal as K line is on top of D line. The stock faces a strong resistance at 20. A close above this level would impart positive momentum. Stay tuned on it.
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 !!!
AC
