Stock Picks For Friday - Netsuite And Life Technologies Corporation

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

Netsuite (N) has already broken out to the upside from its small ascending triangle. The break was accompanied by good volume and the move above resistance near $13 suggests there is additional upside potential with a possible target price at 15.04. Technically, the stock has been back on uptrend since early January and now with stock back above 50 day and 200 day moving average and K line rose back above D line we will probably see more positive thing happening to the stock.

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

Life Technologies Corporation (LIFE) had a very good bullish rally this week accompanied with large volume. A gap was formed also with good volume. The stock is now near the red line as RSI approaches the 80 level. It may still move up some cents but I expect a correction any time as I have observed that a lot of indicators have already reached overbought level. Looks like 38 has proven itself to be a strong resistance. Will it go down? Im not sure, but if next week is still characterized by accumulation at this level, we may still have a chance of breaking the 38 -38.32 level. On the contrary, if the support at 36.62 - 36.53 does not hold the stock, we could expect price move down to 35. Overall LIFE is still bullish, but a correction is due.

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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