Stock Picks For Thursday: JDS Uniphase Corporation And Cell Therapeutics, Inc.

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

There appears to be marginal downside risk from prevailing levels. JDS Uniphase Corporation (JDSU) is going to be very interesting to watch as the stock hit a new 52-week high. Resistance is now $6.86, which was Wednesday’s high of the day. You want to keep a close eye on JDSU as it has the potential to make big upside moves. The stock has a good looking stock chart price broke out from the horizontal resistance mark around $6.35 on heavy volume. This breakout suggests a possible move to $10.

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

Cell Therapeutics (CTIC) failed to close above the resistance level of $1.83. This resulted in a sharp drop on Monday. The recent price patterns suggest that the downward move witnessed on Monday could continue. A decline to the 1.50-1.52 range appears likely. A close below these levels would impart further weakness and would push the stock to the 1.35-1.4 range. On the other hand, the weak outlook would be negated on a close above 1.64. At this stage, keep an eye on the $1.52 ( 50 dma ) level for signs of support.

Other Stocks to Watch :

Rambus - RMBS ( Record Price Breakout )
Wells Fargo & Company - WFC ( Bullish Engulfing )
AT&T Inc. - T ( Bullish Engulfing )
Novavax, Inc. - NVAX ( Bullish Engulfing )
Sequenom, Inc. - SQNM ( Bullish Engulfing )
Seagate Technology - STX ( Bearish Engulfing )
Ambac Financial Group, Inc. - ABK ( Bearish Engulfing )
Johnson & Johnson - JNJ ( Bearish Engulfing )
Interpublic Group of Companies, Inc. - IPG ( Bearish Engulfing )
Cardionet Inc - BEAT ( Unusual Call Option Volume )
Red Hat, Inc. - RHT ( Unusual Call Option Volume )
ViroPharma Incorporated - VPHM ( Unusual Call Option Volume )
Forest Oil Corporation - FST ( Unusual Call Option Volume )
QLogic Corporation - QLGC ( Unusual Call Option Volume )
Fred’s, Inc. - FRED ( Unusual Put Option Volume )
A-Power Energy Generation Systems, Ltd. - APWR ( Unusual Put Option Volume )
Regions Financial Corporation - RF ( Unusual Put Option Volume )
Diageo plc - DEO ( Unusual Put Option Volume )

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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