New York  London  GMT  Tokyo  Singapore 

Stock Picks And Trade Ideas For Wednesday - NVDA, TRN, LDK, LVLT

By Antonio Costa on July 9, 2008 | More Posts By Antonio Costa | Author's Website

Chart courtesy of stockcharts ( click to enlarge )

Level 3 Communications (LVLT) - The stock moved further downwards to the low of $2.58. It is possible that support may be available at this level, before the GAP. If this level becomes a support, it is interesting to note that the RSI and MACD is still creating higher lows. By the MACD alone, we could infer that there is accumulation going on at this stage as the MACD has lately been creating higher lows. On the other hand, RSI is now climbing above 30, which is generally a good sign to enter long for a short trade. A decent rebound could send the LVLT to $3.12. Along the way, it would encounter resistance in the psychological level of $3. Stay tuned on her.

Chart courtesy of stockcharts ( click to enlarge )

LDK Solar (LDK) - From the above chart patterns, it looks like a head and shoulder formation with a neckline around $30. A reversal at or below $30 would validate the chart pattern and then I will consider a short on the break of the neckline. But until that happen I remain flat, waiting for confirmation.

Chart courtesy of stockcharts ( click to enlarge )

Trinity Industries (TRN) has made a huge decline the past weeks and looks like a strong squeeze could be in play as price has reacted very well to its 200 day moving average. Looking at the daily chart price is forming a nice base which could possibly breakout to the upside and accelerate towards the resistance at $34.70. Keep your eye on this for tomorrow.

Chart courtesy of stockcharts ( click to enlarge )

NVIDIA (NVDA) shares still being under pressure as consequence of the profit warning reported last week. The stock continues being a victim of the bad environment in the tech sector that clearly are penalizing all companies more vulnerable of a possible global slowdown. I still reading a lot of comments given by some credible analysts regarding the actual share price of this stock and the extreme drop that has suffered, however there is no indications yet that the bottom has started to be formed, but I still believe in a rebound from this level due to the high oversold conditions. NVDA seems to me a perfect bargain at this level.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.

If you like this article please...
Subscribe by RSS Subscribe by Email Email This Post To A Friend Email This Post To A Friend

Leave A Comment :

Name (required)
E-mail (required - never shown publicly)
URI
Subscribe to comments via email
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.
Opinions From Our Contributors
Commodities Financials Exchange Traded Funds
Stocks Forex Economy



HEADLINES
UPCOMING EVENTS
In 14 hrs: NZD Visitor Arrivals (OCT)
In 17 hrs: AUD New Motor Vehicle Sales (MoM) (OCT)
In 17 hrs: AUD New Motor Vehicle Sales (YoY) (OCT)
In 21 hrs: JPY Supermarket Sales (YoY) (OCT)
In 1 day: EUR French Purchasing Manager Index Services (NOV P)
Enter Your Email Address
Theme By: WordPress Theme Shop