Stock Picks And Trade Ideas For Tuesday - PMCS, RFMD, BIDU, GOOG

Chart courtesy of stockcharts ( click to enlarge )

From my point of view I think Google [[goog]] may break down here. This stock is slowly but steadily coming down on each passing day. Up/Down volume pattern indicates that the stock is under Distribution. The stock closed fractionaly above the major support at $525, but any close below this level could have further negative implications for the stock, and a move to $460 cannot be ruled. At this time the stock is still trading below both 50 day and 200 day moving average showing weakness on the stock. In addition, falling MACD, now below 0, also indicates bearish trend. Stay tuned on it.

Chart courtesy of stockcharts ( click to enlarge )

(BIDU) is back to the descending trendline and showing a little weakness in the technical chart.The stock is still weak as MACD is below signal line and the stock is below 50 and 200 day moving average. The BIDU may be a good short again if is unable to break the upper trend line at $328.

Chart courtesy of stockcharts ( click to enlarge )

(RFMD) is looking pretty bearish after the head and shoulders top and then a failed consolidation. It looks like the stock should test $2.52 again which price was touched on March 17.

Chart courtesy of stockcharts ( click to enlarge )

(PMCS) - All the technical indicators are pointing towards a downfall. The stock is finding resistance at $8. If the stock is unable to cross this resistance and starts to decline, then nearest support is at $7.50. If $7.50 is broken, then the stock may decline to $6.60.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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