Stock Picks And Trade Ideas For Tuesday - RMBS, RIMM, BIDZ, BIDU

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Stock Picks And Trade Ideas For Tuesday - RMBS, RIMM, BIDZ, BIDU

By Antonio Costa on August 12, 2008 | More Posts By Antonio Costa | Author's Website

Chart courtesy of stockcharts ( click to enlarge )

(BIDU) has support at $300. If the stock sustains above this level, then it might go to $319.78 (20 DMA).On the downside, support after $300 is at $287.23. The technical chart shows the stock is in a bear market as it is way below both 50 day and 200 day moving average. All indicators still point to a bear market. The trend is currently down.

Chart courtesy of stockcharts ( click to enlarge )

(BIDZ) - The stock has seen huge rise in prices in the last few sessions. It has resistance at $10.80. If the stock is unable to cross this level, then it might decline to $10.27. Support after $10.27 is at $9.50. On the upside, if the stock crosses its downtrend line and sustains above it, then it might go to $11.98.

Chart courtesy of stockcharts ( click to enlarge )

(RIMM) is currently in an uptrend and has seen huge uprise in prices. Nearest resistance for the stock is at $135. If this level is crossed, then the stock may see further buying interest. On the downside, support is at $125.10 ( 50 DMA ). If $125.10 is broken, then the stock may decline to $118.43 ( 20 DMA) or even $114.95 (200 DMA).

Chart courtesy of stockcharts ( click to enlarge )

(RMBS) ( update ) - On the technical daily chart, a pattern of higher lows is supported by a pattern of higher MACD. The MACD line is rising and is above its signal line. The stock closed above its 20 day-moving average, generally a Bullish sign. Are the technical signs suggesting that RMBS is about to break out of its downtrend line? I think so. Looking closely at the daily chart I think that the downtrend line was finally broken, but in need to know if tomorrow the stock will follow through in the upward direction. A decisive break of the downtrend line signals an end of the trend, and offers a trading opportunity to buy. So, stay tuned on it. Let’s see what happen.

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.

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