Stocks To Watch Tuesday: Research In Motion And PMC Sierra

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

Research In Motion (RIMM) - Looking at the technical daily chart above, there is a possibility of a drop to 60-62.50. This view would be valid if the stock fails to move past the resistance zone at 68.08 ( 200-day moving average ) again. A close above this level would have positive implications and propel the stock into the next leg of the bullish trend. I continue to be bullish on the company and a move to the 75-80 range is not ruled out. Remain invested with a stop-loss at 62.50.

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

PMC Sierra (PMCS) reversed direction at 7.30 today with a good volume. This level is proving to be a strong resistance zone. Long-term investors who have entered at lower levels may take partial profits and have a stop-loss at 6 for the rest. Shareholders who prefer higher risks may hold with a stop-loss at 6.71. A drop below this level would result in a short-term weakness and the share price may drop to the 6-6.20 range subsequently.

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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