Stock Picks And Trade Ideas For Wednesday - Amazon, Rambus

Chart courtesy of stockcharts ( click to enlarge )

Rambus (RMBS) closed at $9.38 and was the strongest stock on Tuesday. Rambus is the frequent subject of patent infringement & anti-trust claim issues. Hynix Semiconductor, Samsung Electronics, Micron Tech have had patent infringement suits with Rambus. The stock has crossed its medium term resistance at $7.90 ( 20 EMA ) with strong volume. The technical daily chart shows the stock is back to a new rally as K line has just crossed on top over D line and RSI is also increasing after hitting oversold levels. The MACD indicator is above its signal line and is indicating further strength. The -DI has cut below the +DI line, this implies that uptrend will most likely continue. Please be aware that Rambus is the kind of stock that the share price depends in part of the news that comes to the market, causing generally large fluctuations in the share, so be careful if you’re not familiar with the stock.

Chart courtesy of stockcharts ( click to enlarge )

Amazon (AMZN) - From the chart above, we can see that the stock has found a nice support around the $61 level. The stock is probably back to uptrend and with KD rising we could see possible rally coming for the stock. The short-term targets for the stock are $67.36 and then $73.12. Short-term investors can buy with a stop at $61.09 and long-term investors can hold with a stop at $55.48. Let’s keep an eye on her as i think momentum will pick 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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