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Wednesday, January 20, 2010 

Stocks to watch on Thursday Jan 21

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RMBS had a strong day on Wednesday after Samsung Electronics agreed to pay as much as $900 million in five years to Rambus Inc., as part of a deal to settle some high-profile litigation focusing on memory chips. Samsung also agreed to buy $200 million worth of newly issued Rambus stock. I'm watching the stock again on Thursday as resistance stays at the December 28th high of $25.45. If RMBS can break highs, I expect to see strong volume drive the stock much higher. There is good upside in this trade if the volume increases, so keep a close eye on RMBS for Thursday’s trading. Technically the stock now shows positive sign as the stock has crossed bullishly above their 10-day moving average of $22.64 on volume of 24.5 million shares. Despite weak signal from MACD in the technical daily chart as MACD and signal line are below 0, the technical chart shows this might be a great time to buy the stock as K line has just crossed on top over D line showing buy signal while ROC is still at oversold level. In addition, RMBS's call options have been very active. RMBS is probably back to uptrend and with KD rising we could see possible rally coming for the stock. Keep watching RMBS as we should see a breakout move very soon.

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PLUG has held up very well in this weak market environment. The fact that the stock did not sell off today, is a good sign that there is strong support behind this move. PLUG is extremely oversold according to the Stochastic Indicator, so look for a possible rebound soon.

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The stock lost momentum when the price came off from $1.40. This may present an opportunity for investors to buy CTIC at cheap price. The stock has a strong support level at 1.05 and near term resistance level at 1.175. Keep the stock on your radar for the next few trading sessions.

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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