Stock Picks And Trade Ideas For Thursday - PMCS, CSIQ, LDK, POT

Chart courtesy of stockcharts ( click to enlarge )

Potash (POT) broke double top support with a high volume decline in mid June. Broken support turned into resistance around $215. The pattern looks good but any move below the support opens the door to the mid 200s . It is better to stay at the sideline and see how the stock react for the next few days as the stock has approached the pressure line of 20 day moving average and also is coming back to test support at the previous breakout area.

Chart courtesy of stockcharts ( click to enlarge )

LDK Solar [[ldk]] broke falling price channel resistance yesterday and continues to work its way higher. From the technical chart both MACD and KD are showing bullish sign as MACD is rising near 0 while KD is crossing up. The stock might test $47 level in the short term if it is able to sustain above $42.

Chart courtesy of stockcharts ( click to enlarge )

Canadian Solar (CSIQ) - The stock is pulling back after recent strong move up. If it does not catch support here (between $42.50 and $43 ), look for support at the 20 DMA at 41.79.

Chart courtesy of stockcharts ( click to enlarge )

PMC-Sierra (PMCS) - This stock has support at $8.50 and $8.24 levels. Currently trading at its 20 DMA, if the stock is able to find support at its 20 DMA and moves above 8.99 then it might go to $9.15. Keep an eye on it for a possible breakout over $9.15.

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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