Stock Picks For Thursday: Nvidia And Ciena

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

Nvidia (NVDA) is at a point where the stock is going to make a move. Whether this is an upside or down move, that has yet to be seen. The stock has consolidated the past two weeks. If NVDA can break through Friday’s high of $14.23, the stock should make a strong upside move. On the other hand, if the stock does not break resistance, be very careful and use your stops for the downside. Shareholders may remain invested with a stop-loss at $12.90.

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

Ciena (CIEN) has traded in a range the past three weeks, after it gapped up last Tuesday. The top of this range is $12, which is resistance for the next breakout move. Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. If CIEN can break resistance, we should see strong volume drive the stock higher. The stock will move quickly, so watch it closely on Thursday.

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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