Stock Picks For The Week Ahead: Alcatel Lucent And JDS Uniphase Corporation

Chart courtesy of stockcharts ( click to enlarge )

JDS Uniphase Corporation (JDSU) held up well, in a very weak market. I feel there will be a follow through move, and it could occur next week. Resistance for this move is $5.99, which was the high on Thursday. The stock has been in a sideways trend for a long time, and this move could move the stock quickly. Fresh buy should be initiated only when the stock moves above $5.99. If the stock fails to move above this level, it can decline to $5.72 or $5.6. Watch the stock closely next week.

Chart courtesy of stockcharts ( click to enlarge )

Alcatel Lucent (ALU) - After gapping up on Thursday after a strong earnings report, ALU has consolidated and is setting up for another upside move. The high for this range is $2.93, which is resistance for the next move. There will be another resistance level at the $3.17-.3.25 range, but the stock should be able to trade through there. From the technical chart it looks like the slide has ended and the stock is now back on the rise again with K line on top over D line and MACD above the sell line. Fresh buying may be considered on a move past $2.80.

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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