Stock Picks And Trade Ideas For Tuesday - JAS, JAVA, AAPL, LDK, XOM

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Exxon Mobil (XOM) - The overall outlook for the stock appears bullish. Only a close below $78.71 ( 50-day moving average ) would negate the bullish outlook for the stock. A close above $82 would reinstate short-term bullish trend that could propel the stock to the next target zone of $84.33-85.47. Technicals are bullish ( MACD , KD , RSI ) signaling sideways to higher prices in the near term.

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LDK Solar (LDK) closed lower on Monday however posted a smart recovery off the lows. Technicals are now in oversold territory signaling sideways to lower prices in the near term. At this point, a drop below $37.65 ( 200-day moving average ) would impart bearish trend. Bulls could remain invested with a stop loss at $37.50.

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Apple (AAPL) closed sharply lower on Monday to $131.05 as the decline continues. The low-range close sets the stage for a steady to lower opening on Tuesday. Technicals are oversold but remain neutral to bearish signaling sideways to lower prices are possible in the near term. Next support for the stock is $127 and $120.68 levels. Only a close above $144.20 will reverse the current downtrend.

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Sun Microsystems (JAVA) - The near-term trend is bearish and the drop below $8.32 confirmed the weak outlook. $7.56 is a crucial level. Breakdown will result in a greater fall.

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Jo-Ann Stores (JAS) is forming a rising wedge (bearish pattern) on daily chart with a likely target of around $20. It will be interesting to see if market touches $26 or perhaps even $27 in the coming days before a good fall. For now, be cautious on all up moves and keep a close eye on the wedge. The moment the wedge is broken, expect good correction.

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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