Stock Picks For Wednesday: Nvidia And Rambus

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Stock Picks For Wednesday: Nvidia And Rambus

By Antonio Costa on July 8, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of stockcharts ( click to enlarge )

Rambus (RMBS) - The stock made a nice reversal today and finished stronger. Further rally is still possible to $16 zone. From the technical chart the stock looks somewhat weak in the short-term as the stock is still trading below the 20 day moving average and short-term MACD moving down. However, the surge today brought K line to near D line indicating that we can see a rally soon. Hold the stock with a stop at $14.52.

Chart courtesy of stockcharts ( click to enlarge )

Nvidia (NVDA) - If the weakness continues and NVDA breaks the support at $10.08, there will be a good chance that the stock will test the $9.18 support. However, as long as support holds a reversal is possible. Technically, there is nothing positive about the technical chart. All other indicators still point to a bear market.

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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