Stock Picks For Friday - Juniper Networks And DayStar Technologies

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Stock Picks For Friday - Juniper Networks And DayStar Technologies

By Antonio Costa on June 12, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of .stockcharts ( click to enlarge )

DayStar Technologies (DSTI) broke out above the resistance of 1.03 on Wednesday and achieved my first target. Today, the price broke out above some strong resistances areas, but the bulls could not sustain the breakout and price closed well off its high. Short-term trend is not clear in this stock, we have to wait further market action to give a confirmation of the price direction. The significant support for the stock is now at 1.03. Hold with a tight stop at 1.

Chart courtesy of stockcharts ( click to enlarge )

Juniper Networks (JNPR) - The technical daily chart shows that the stock is losing momentum and the daily relative strength index has entered the neutral region from the bullish zone. Based on the technical chart above my short-term forecast for the stock is bearish. I expect the stock to decline to $22 level in the upcoming trading sessions. Almost all indicators as MACD, RSI and Stochastic are showing me to exit the long side.

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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1 Comment :

Comment by D Pickard Subscribed to comments via email

2009-06-12 10:51:11

DSTI might be tradable, but as far as Solar fundamentals are concerned, its pretty much worst of breed.

LDK is the place to be. Large-scale industrial player, highly undervalued, and heavily shorted. They’ll announce news on a major investment soon, plus there’s news on new Solar Contracts coming out of China.

DSTI hardly even has a product, and it could disappear at pretty much a moment’s notice.

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