Stock Picks And Trade Ideas For The Week Ahead - BIDU, TRN, JNPR, RMBS

Chart courtesy of stockcharts ( click to enlarge )

Juniper [[jnpr]] shares surged 17% after the maker of networking equipment reported strong earnings. The stock had slumped about 40% since peaking at a six-year high last October. In addition to the strong earnings report, the company named a new CEO on Thursday, replacing long-time chief Scott Kriens, who will more into the chairman role at the company. Looking at the daily technical chart, it shows that JNPR declined substantially during June, and then consolidated forming an inverted head and shoulder pattern. On Friday, the stock broke out from its neckline on relatively high volume, the neckline breakout was accompanied by a bullish Stochastics crossover in oversold territory. Based on today’s action, I expect to see the stock move up in the next coming weeks. Technically I’m bullish on the stock.

Chart courtesy of stockcharts ( click to enlarge )

Rambus (RMBS) - After declining for a month, RMBS moved up strongly after earnings report on Friday, suggesting a possible reversal. The reversal seems especially likely to continue. In addition to the bullish price action, volume was very strong, there was a bullish Stochastics crossover in oversold territory. Stay tuned on her.

Chart courtesy of stockcharts ( click to enlarge )

Baidu.com [[bidu]] reported good earningson thursday and shares react positively. The stock has been trading in a range of $161-$429 in the past 52 weeks. Looking at the technical daily chart above it shows a new rally is about to begin as K line has just crossed on top over D line as the stock is again back above 50 day moving average. In addition since ROC has began to rise from oversold level there is plenty of upside for the stock. Let’s keep an eye on BIDU.

Chart courtesy of stockcharts ( click to enlarge )

Trinity Industries (TRN) - Previous support now offering a strong resistance. In the last trading sessions, the stock found resistance at around $37 and declined. The technical chart shows the stock has just entered the bull market as the 50 day moving average has crossed on top over 200 day moving average in early June to form Golden Cross, a very bullish signal. However KD shows weak signal as K line is below D line. Therefore a better time to buy would be to wait for K line to rise back up again above D line or buy stock only if the stock moves above $37 with tight stop loss.

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, USA.

Subscribe by RSS Subscribe by Email