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Monday, May 18, 2009 

Hot stocks to watch Tuesday - Ciena and Rambus

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

CIEN - The stock failed to drop below its 200-day moving average. The chart is showing signs of of strength again for the short-term. The momentum indicators are giving a buy and are moving into a positive zone. From a technical perspective the rally is back again as K line has just crossed on top over D line and stock is back above 5 day moving average, a positive signal. The short-term outlook would remain bullish as long as the price holds above the stop-loss level of 9.21. The stock could move to the immediate target zone at 11.60-12.20.

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

RMBS still showing signs of accumulation both on the balance volume indicator and CMF. We are in between two critical levels, 12.50 upside and 10.78 downside. The stock will take a move only after a breakout/breakdown beyond these parameters on heavy volume.

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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