Stock Picks And Trade Ideas For Friday - CMCSA, CHK, GE

Chart courtesy of stockcharts ( click to enlarge )

General Electric (GE) is in a bearish phase and I have to say that the recent downtrend does not appear be complete. The stock dropped to a new 52-week low in final trading Thursday. Shares ended the day down $0.49, or 4.64 percent, to close at $10.06 on heavy trading. On the chart, the technical indicators remained bearish at Thursday’s close and showed the main trend of the stock was still negative. The stock is still in very weak market as 50 day moving average is still declining and MACD is still below 0. In addition KD also show weak signal, K line is dropping below D line.

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Comcast (CMCSA) has recovered from its yesterday’s low of $11.95. The current rally should at least push the stock to $14 per share where the major resistance is. The stock needs to close above this level to indicate a continuation of the rally. If this rally fails, there’s a new downside risk. Shareholders may remain invested with a stop-loss at 12.58.

Chart courtesy of stockcharts ( click to enlarge )

Chesapeake Energy (CHK) - The stock is sitting right on its 50 day moving average at $16.37. I consider it to be a good support because it served as an important resistance level twice in the past. However, I note that the daily momentum indicator is displaying bearish divergence, which portends weakening in the bullish momentum. Hold with a stop-loss at $16.37.

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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