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Stock Picks And Trade Ideas For Thursday - TOL, SIRI, CIEN
By Antonio Costa on September 11, 2008 | More Posts By Antonio Costa | Author's Website
Chart courtesy of stockcharts ( click to enlarge )
CIENA (CIEN) - From the technical chart above it looks like the stock is ready for rebound as K line is about to cross on top over D line. In addition low ROC at oversold level should attracts buyers. CIENA is a good bet for a long player. Even in this economic enviroment the company continues to make a profit and is projected to do so in the immediate future. Its price/earnings ratios are attractive at this point.
Chart courtesy of stockcharts ( click to enlarge )
Sirius XM Radio (SIRI) - The company’s stock price has plummeted about 60 percent from a high of $2.75 in the last month and is now below $1 per share. Since the stock is still on a down trend with MACD below 0 there is no reason for the long player to buy the stock. For the short term player who buy the stock due to rising KD a good selling point would be when the stock reaches $1.26 cents per share.
Toll Brothers (TOL) has been trading in an uptrend channel since the lows at 16.25 were placed in January 2008. Daily technical indicators remain positive for now with MACD above the sell line and the RSI above 50. Channels are extremely important as upper and lower trendlines represent key pivot points. A break below the uptrend channel could signal the end of this rally, so hold the stock with a stop loss order under the lower line. Resistance of this uptrend channel is at $27.19.
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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