Stock Picks And Trade Ideas For Next Week - GOOG, GRMN, YHOO, BIDU

Chart courtesy of stockcharts ( click to enlarge )

Baidu.com (BIDU) - the stock is sitting right on its 200-day moving average at $312. The technicals, although basic, point to a move higher in the coming days. More encouraging news is that we are issuing buy alert on the stock as KD shows rally’s coming as K line has just rose above D line. On the other hand, if BIDU breaks down below $310 on high volume, then stock should see additional weakness possibly back to $300 level. But dont be fooled by a light volume pullback below $310. If there is no conviction in the move lower, then it is most likely a false move and probably be temporary. Volume is key at this juncture. Let’s keep an eye on it.

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Yahoo (YHOO) - What a week!!!! I was watching this stock all day, and once it broke through $23, I bought the stock again. Looks like something big is going on, I think. No matter what they are saying, Microsoft needs Yahoo much more than Yahoo needs Microsoft to compete in today’s search engine and social networking economy. In my honest opinion, the stock is always a good buy in the 22-24 range.

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Garmin (GRMN) - The stock broke support as the market rose on Friday. The long-term trend is still weak as the stock has been trading below 50-day and 200-day MA with both now going downward showing bearish signal. It is better to stay at the sidelines and see how the stock reacts for the next few days in this support level.

Chart courtesy of stockcharts ( click to enlarge )

Google (GOOG) - On a short-term basis, the stock is fighting with the MA200 at $574, I expect a breakout at any moment, hold. In addition KD show buy signal as K line has just rose above 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.

Posted in Categories: Contributor, External Research, Stocks.

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