Stock Picks And Trade Ideas For Thursday - STX, RIMM, AAPL

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Stock Picks And Trade Ideas For Thursday - STX, RIMM, AAPL

By Antonio Costa on December 4, 2008 | More Posts By Antonio Costa | Author's Website

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

Apple (AAPL) - The stock has made a huge decline the past weeks and looks like a squeeze could be in play as price has reacted very well to its 20 day moving average. Looking at the daily chart price is forming a nice base which could possibly breakout to the upside and accelerate towards the resistance at $98,94. Keep your eye on this for tomorrow.

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

Research In Motion (RIMM) - On a technical basis the stock is still in a downtrend despite the pop in price on today’s session. The resistance levels are now at $40.21, then at $41.31 and then the upper limit of the current bearish channel which is today at $45,23. It would need to break above that level to change the bearish trend.

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

Seagate (STX) is still holding a nice support around $4 but at the same time has not bounce very strongly here. A break below $4 will likely be bearish for stock. On the other hand, a close above $4.80 on heavy volume will definitely launch a rally.

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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