Stock Picks And Trade Ideas For Friday - YHOO, GOOG, EBAY

Chart courtesy of stockcharts ( click to enlarge )

Daily chart is showing that EBAY (EBAY) has been in a downtrend since April. The declining 20-day moving average clearly is showing this. The stock has chance to start new rally as K line is slightly above the D line. However since the stock is still weak as MACD is below 0, if K line fails to stay above D line, the downtrend may continue. We need to see what happen to project the next swing target.

Chart courtesy of stockcharts ( click to enlarge )

Google (GOOG) opened weak and closed strong to form a massive Bullish Engulfing pattern. The chart target is at $461.90. A good entry would be at $420 or below. A drop below $406.38 would however invalidate the set-up.

Chart courtesy of stockcharts ( click to enlarge )

Yahoo (YHOO) caught my attention today. The signal to buy was given today when the previous day high at $17.78 was taken out. Although the stock is showing weakness with MACD slightly below 0 and 50 day-moving average still declining, now with K line rising passed D line the stock could probably bounce back up for few sessions.The next resistance is at $18.98, which is exactly the 20-day moving average. If this is broken the next target is the 50-day moving average at $20.37.

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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