Stock Picks And Trade Ideas For Thursday - COGT, BIDU, CIEN

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

Baidu (BIDU) is looking like it has some more room to the downside here. The near-term outlook is very bearish and the stock could drop to the $98-100 range. The technical chart shows very bearish sign with the stock below its major moving averages. In addition other technical indicators such as MACD and KD also show sell signal as MACD is below signal line and K line is dropping below D line. Since the stock is still on a down trend with MACD below 0 there is no reason for the long player to buy the stock.

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

Cogent (COGT) - The chart broke out of a great looking bullish trading channel with a short term price target near $12.38/share. Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line.

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

Ciena Corp (CIEN) - The stock is out of control and in a clear downtrend mode. The stock made a new 52 week low of $5.55 today. Looking at the daily technical chart above, we can see the stock still showing bearish sign as the stock is trading below the 50-day moving average and the 200 day moving average with both moving averages going downward. The other technical indicators such as MACD and KD also show sell signal as MACD is below 0 and K line is below D line.

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.

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