Trade Ideas For Wednesday - DLTR, CSCO, ME

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Trade Ideas For Wednesday - DLTR, CSCO, ME

By Antonio Costa on February 4, 2009 | More Posts By Antonio Costa | Author's Website

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

Mariner Energy (ME) shares have been on a rise recently as K line is on top of D line indicating a buy signal. Now with MACD above the sell line and with stock above 20 day and 50 day moving average the stock may see more up side. If price breaks above the last price spike resistance of 11.39 I think going long will present a very possible profitable trade, and stock may run quickly to 12.84 area.

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

Cisco (CSCO) has been in a corrective phase since the beginning of this year along with the rest of the US stocks. The stock recently broke below its 20 and 50 day moving averages. Short term momentum indicators are substantially oversold and are now showing technical signs of recovery. The break of the resistance line at 15.73 with heavy volume should be the next buy point on Cisco.

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

Dollar Tree (DLTR) shares have been consolidating a pretty tight range. Volume is starting to build and it may make an attempt at breaking out. Positive MACD indicates that the stock is a buy. Any move over 44.32 will probably lead to new highs. Let’s keep an eye on it.

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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