Stock Picks For Thursday: Tessera Technologies And NetApp Inc.

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

Tessera Technologies (TSRA) has had a hard time with resistance here. The level which the stock may have trouble moving above, is today at $26.30. It would need to break above that level to run to $28. Looking at the daily chart, the MACD continues below its signal line, showing a clear evidence of a Bearish trend in the short-term. In addition, K line is falling below D line, generally a bearish signal. However unless the stock can break above $26.30, don’t expect too much going from the stock.

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

NetApp Inc. (NTAP) reversed direction at $24 on Thursday. This level is proving to be a strong resistance zone after the recent rally. A strong trend would not be in place unless the stock closes above this level. The near-term outlook would depend on the price movement in the next few days. A close above $24.19 would impart bullishness and would help the stock move higher. A drop below $22.30 would have negative implications that would push the stock down to the 20-21 range. Watch $24.19 up and $22.30 down.

Other Stocks to Watch :

First Trust DJ Global Select Dividend - FGD ( Unusual Volume )
Rentech, Inc. - RTK ( Unusual Volume )
GOL Linhas Aéreas Inteligentes S.A. - GOL ( New High )
Arcadia Resources Inc - KAD ( New High )
B&G Foods Inc. - BGS ( New High )
LodgeNet Interactive Corporation - LNET ( New High )
Natural Health Trends Corp. - BHIP ( New High )
Wyeth - WYE ( Breakout )
Rambus - RMBS ( Unusual options activity )
Amer Business Information - ABII ( New Low )
Tamalpais Bancorp - TAMB ( New Low )
Williams Coal Seam Gas Royalty Trust - WTU ( New Low )
Repros Therapeutics Inc. - RPRX ( New Low )
MetroPCS Communications Inc. - PCS ( New Low )
Human Genome Sciences - HGSI ( RSI Overbought )
RADIAN GROUP INC - RDN ( RSI Overbought )
FIDELITY NAT INF SVC - FIS ( RSI Overbought )
Brigham Exploration Company - BEXP ( RSI Overbought )

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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