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Monday, August 03, 2009 

Trade Ideas for Tuesday - Motorola and Nokia

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

NOK successfully broke the resistance at 13.48 confirming a reversal. Target price for the pattern is at $14. The breakout also moved past the 200 day moving average. From the technical chart KD line shows positive signals as K line is now rising on top over D line and RSI continue moving up. OBV is beginning to turn around which suggests the stock is no longer being sold off. I suspect the stock may continue to appreciate over the coming days.

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

MOT looks to be setting up for an upside move as the stock traded higher on Monday, but did not break resistance. The stock needs to break Frisday’s high of $7.30 to expect a strong rally at this point. The technical daily chart still showing positive sign as the stock is above both 50 day and 200 day moving average with MACD above 0. Keep an eye on Motorola for a possible breakout over 7.30.

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 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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