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Tuesday, July 31, 2012 

Trade Ideas for Wednesday, August 1

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Brocade Communications Systems, Inc. (NASDAQ:BRCD) continued trading above the short-term moving averages. The technical indicators still indicate a bullish tone in short-term. The support level is located at $4.74 and the resistance is still at $5.02.

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With today's move, InterDigital, Inc. (NASDAQ:IDCC) shares are back over the 13-day moving average which I've been waiting on to add the name back to the portfolio again. 

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Frontier Communications Corp (NASDAQ:FTR) had a significant bullish momentum today made a strong break out above its 50-day moving average as you can see on my daily chart, which is very bullish. The stock is again setting up for a potential swing trade. From a technical perspective the MACD Histogram and stochastic oscillator have turned up and RSI is again moving upward. Next resistance is located at $4.05

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First Solar, Inc. (NASDAQ:FSLR) was a big winner on Tuesday as the stock ended up $1.33 on the day. I will be watching the stock on Wednesday for a continuation move through Tuesday’s highs of $15.59. Although this trend is encouraging the near-term outlook stays cautious till the stock closes conclusively above 16.42 on heavy volume.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog  twitter and newsletter, so you can receive my trade ideas and stock news in real time. 

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

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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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