Stock Picks And Trade Ideas For Tuesday - SYMC, CHK, RIMM, BIDU

Chart courtesy of stockcharts ( click to enlarge )

Symantec (SYMC) - In the near term, the stock is in a recovery mode. Technically, chart shows the stock could be back to rally again as the MACD fast line crossover the MACD slow line indicating a buy signal. Go long at any close above the $15.90 area.

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Chesapeake Energy (CHK) - The technical daily chart above shows weak sign as the stock is below both 50 day and 200 day moving average. However KD shows possible rally as K line is on top over D line and MACD back again above 0. Although the moving average remains weak, as soon as there’s any breakout above $24 we should see a lot more buyers coming.

Chart courtesy of stockcharts ( click to enlarge )

Baidu (BIDU) - The stock appears to be headed towards the target zone of 260-273 in the short-term. Hold with a stop-loss at $229.

Chart courtesy of stockcharts ( click to enlarge )

Research In Motion (RIMM) - Research In Motion shares lost 10 percent on Monday after a brokerage report said that retail sales trends for BlackBerry smartphones in North America and Western Europe have been “slightly disappointing”. In a note issued on Monday, Pacific Crest Securities analyst James Faucette said so called “sell-through” trends throughout the middle of October have been slightly disappointing. It also said risks to November-quarter results are building as the company is becoming more reliant on “aggressive and successful” launches of its BlackBerry Storm and BlackBerry Bold models in the United States. The share price has been in a downtrend since middle of August. There are no signs of the completion of this downtrend as yet. A close below $50.22 will push the stock to $45-$41.25. Hold with a stop-loss at $50.22.

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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