Stock Picks For Monday: Ciena, Trinity Industries And Verisign

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Stock Picks For Monday: Ciena, Trinity Industries And Verisign

By Antonio Costa on August 10, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of stockcharts ( click to enlarge )

Ciena (CIEN) continues to move higher and it still looks strong on its daily chart. I raised resistance to $11.78, which was Wednesday’s high. The stock is sitting right on its 13 day moving average at $11.33. The technicals, although basic, point to a move higher in the coming days. The MACD indicator is above its signal line and is indicating further strength. In addition, the RSI indicator is moving up above 50 and the +DI is greater than the -DI by a great margin, indicating a Bullish trend. CIEN can be a fast moving stock, so watch it closely on Monday.

Chart courtesy of stockcharts ( click to enlarge )

Trinity Industries (TRN) showed strength on Friday, as the stock closed up $.94 on the day. This stock is setting up for a big upside move, and I’m going to be there when it happens. If TRN can break through $16.03, we should see volume buying in the stock. From the technical chart both MACD and KD are showing bullish sign as MACD is rising near 0 while KD is crossing up. Keep this one on your radar for Monday.

Chart courtesy of stockcharts ( click to enlarge )

Verisign (VRSN) traded lower on Friday, as the company released earnings after Thursday’s close. The stock traded heavy volume as it hit a low of $18.44 on the day. I will be watching VRSN on Monday, looking for a follow through move. If the sellers come back and take VRSN back through Friday’s low, we should see strong volume as the stock moves lower. Looking at the technical chart, the pullback below the short-term support level accompanied by a bearish MACD crossover, suggests that the selling pressure dramaticaly increased and the stock might test $18 levels in the short term if it is able to sustain below $19.50.

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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