Stocks To Watch Tuesday - Yahoo, Powerwave Technologies, Rambus

Chart courtesy of stockcharts ( click to enlarge )

Yahoo (NASDAQ:YHOO) - It looks like a small bearish rising wedge pattern broken on the Yahoo chart. The pattern seems to have had a downside breakout. The breakout volume in my opinion was not large enough. However, when a validated trendline gets broken, it tends to have some significance. The breakdown put a target of 11.75 in play.

Chart courtesy of stockcharts ( click to enlarge )

Powerwave Technologies (NASDAQ:PWAV) - The stock broke the descending traingle on Friday and has moved decisively to the upside. That’s a powerful sign that high prices are likely to persist. Long positions may be considered on price weakness, with a stop-loss at 0.39.

Chart courtesy of stockcharts ( click to enlarge )

Rambus (NASDAQ:RMBS) - The stock is simply telling me that this is a nice healthy pullback after a big run. The trend should resume back up in the very near future. The technical chart is also showing declining volume but stock has a Bullish outlook. I could be wrong, but I did not find a reason for the drop in shares as it did. It was likely a consequence of the negative market environment.

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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