Stock Picks For Wednesday: Alcatel And Juniper Networks

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Stock Picks For Wednesday: Alcatel And Juniper Networks

By Antonio Costa on August 5, 2009 | More Posts By Antonio Costa | Author's Website

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

Juniper Networks (JNPR) looks to have found support around the $26 price range, as the stock bounced off that range on Tuesday. I have been waiting for the stock to make a move, and it should occur very soon. Resistance is $26.50, which is the top of this three-day range. I’m buyer of JNPR once it breaks through this level, expecting to see an increase in volume as traders buy up the stock. Keep a very close watch on this stock for Wednesday.

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

One of my old favorite stocks is back on the list for Wednesday’s trading session. Alcatel (ALU) took off on Tuesday, as buyers jumped in to drive it to a high of $3.08 on the day. The stock traded heavy volume and I expect a continuation move on Wednesday. Resistance reflects Tuesday’s high. Technically, the stock has broken all medium term resistances, and appears strong. At this stage, there is no reason to sell the stock. ALU has a lot of upside potential, so keep watching the stock.

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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