Stocks To Watch This Week - WYNN, NVDA, JAVA

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Sun Microsystems (JAVA) - The stock has just tested its medium-term uptrend line support at $4.50 and rebounded. Further test of this uptrend line is possible. If the uptrend line is not violated, this could be a good entry. The technical chart shows the stock is in a recovery mode as both 20 day and 50 day moving averages are going up along with the stock. Volume declined on the pullback which is positive. Watch for high volume and relative strength/weakness before you jump on board.

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Nvidia (NVDA) shares are still holding very well around $7, but at the same time has not bounce very strongly here. A break below $6.92 area will likely be bearish for stock, on the other hand a close above $8.25 on heavy volume will launch a rally. Hold with a stop-loss at $6.90.

Chart courtesy of stockcharts ( click to enlarge )

Wynn Resorts (WYNN) - Although the moving averages of stock are showing weakness, as the stock is still trading below 50 and 200 dma, there is one technical indicator showing some strength, the stochastics. The stock has chance to start new rally, because K line has just crossed on top over D line. The stock at least can hit the 20 day moving average at $28.89 cents per share. Watch to see what it does here.
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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