Stock Picks And Trade Ideas For Wednesday - EBAY, ADBE, CSIQ

Chart courtesy of www.stockcharts.com ( click to enlarge )

Canadian Solar (CSIQ) - The long-term chart shows an under performer when compared to other stocks in the same sector. Canadian Solar seems to have a remarkable support around the $4 level but the medium-term chart shows a clear downtrend channel. If this stock breaks out above $5,82 its very probable that we will see a decent upside move for the bulls.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Adobe (ADBE) - Daily chart above shows that it is still to early to say that the downtrend has ended for Adobe Systems. It is better to stay at the sideline. Only a close above $23,27 would trigger some positive sentiment.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Ebay (EBAY) - The stock crossed its 20-day moving average and closed up $1,03 at $13,26. The current rally should at least push the stock to $13,59 per share where the major resistance is. The stock needs to close above this level to indicate a continuation of the rally off this month’s low of $10,91. If this rally fails, there’s downside risk to support around $12.

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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Comment by Steve Place

2008-12-04 13:30:12

I just picked up some bullish exposure in ADBE using a long term straddle sale. Puts you in at about 16 bucks a share at expiration.

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