Stock Picks And Trade Ideas For The Week Ahead - JDSU, MRVL, BRCM, JPM, QCOM

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Qualcomm (QCOM) - The trend would turn positive only a close above $32,23. Long positions may be considered on a daily close above this level, with a stop-loss at $29,35. Technically, the chart 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 now above D line.

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JPMorgan (JPM) is forming a rising wedge (bearish pattern) on daily chart with a likely target of around $36. It will be interesting to see if market touches $35 or perhaps even $36.89 in the coming days before a good fall. For now, the technical short-term indicators look favorable for the bulls, however be cautious on all up moves and keep a close eye on the wedge. The moment the wedge is broken, expect a good correction.

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Broadcom (BRCM) is still holding support at $14 but at the same time has not bounce very strongly here. A break below this level will likely be bearish for stock, on the other hand a close above $15.05 on heavy volume will launch a rally to $15.69. The technical indicators show the stock is back to rally again as K line is above D line with MACD also back above signal line.

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Marvell Technology (MRVL) - The stock is sitting right on its 20 day moving average at $5.65. The technicals indicators, although basic, point to a move higher in the coming days. MACD above “0″ with KD rising.

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JDS Uniphase (JDSU) - The stock surged to its 20-day moving average resistance with a good volume on Friday. A break above $2.98 on a close basis would be quite bullish. From the technical chart both MACD and KD are showing some bullish sign as MACD is rising while KD is crossing up.

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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