Trade Ideas For Tuesday’s Stock Trading Session - FSLR, RFMD, AMZN

Chart courtesy of stockcharts ( click to enlarge )

Amazon.com (AMZN) has been trading within a medium-term rising wedge formation. The prices keep forming it, and being bound by it. Soon they’ll break one way or the other.

Chart courtesy of stockcharts ( click to enlarge )

RF Micro Devices: A head and shoulders formation is easily visible on the (RFMD) chart, with the top of the head coming in at the recent high of $4.27 and the neckline at around $3.20. That neckline was broken yesterday, and with a possible negative tendency in the stock market today, this could be set for lower levels still. Sell around $3.2 with a stop at $3.37 and a target of $3.

Chart courtesy of stockcharts ( click to enlarge )

First Solar (FSLR) shares rose yesterday, boosted by an upgrade at Lehman Brothers. In a client note Monday, analyst Vishal Shah raised his price target to $335 from $280, implying an expected return of 25 percent over Friday’s close of $268.22. Looking at the technical chart, If FSLR can break through $288.38, we should see a strong follow through move. Keep watching FSLR for a bigger move soon.

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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