Stock Picks And Trade Ideas For Wednesday - ESLR, NOK, LVLT, LEH

Chart courtesy of stockcharts ( click to enlarge )

(LEH) - Lehman shares rose today with other financial stocks, gaining more than 6% to $24.35. From the technical chart the stock looks weak as the stock is still trading below both 50 day and 200 day moving average with MACD below 0 indicating bear market. However, the surge today brought K line to near D line indicating that we can see a rally soon. Hold the stock with a stop at $22.34.

Chart courtesy of stockcharts ( click to enlarge )

(LVLT) - Sell the stock only when it declines below its 200-day moving average.

Chart courtesy of stockcharts ( click to enlarge )

(NOK) - Although the moving average shows weakness according to the daily chart above as the stock is still trading both 50 day and 200 day moving average with both moving average heading downward, there are other technical indicators showing strength. One of these indicators is the stochastics in which K line has rose on top over D line, generally a buy signal. Buy the stock only when it moves beyond the resistance level of $25.

Chart courtesy of stockcharts ( click to enlarge )

(ESLR) - The stock is losing momentum and the volumes are also declining. Fresh long position should be initiated only when the stock moves above $12.64.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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