Stock Picks For Wednesday: Ambac Financial Group, Rambus And Research In Motion Limited

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Stock Picks For Wednesday: Ambac Financial Group, Rambus And Research In Motion Limited

By Antonio Costa on September 30, 2009 | More Posts By Antonio Costa | Author's Website

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Ambac Financial Group (ABK) is in a good medium-term uptrend. The price has bounced off the low of 0.73 touched in late July. The price can head towards the 1.89-1.98 zone. If this zone is surpassed, getting to 2.18 would be a possibility. Add to your position once there is a close above 1.89. On the contrary, the key support for the stock is at $1.71. Closing below this levels are bearish for the stock as it could pullback to retest $1.56.

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In the short term, Rambus (RMBS) is still trading within an uptrend channel. The stock is sitting exactly on its 5 day-moving average at $17.17. Resistance is seen at $17.82 and $17.96. The key support for the stock is at $16.65. Closing below this levels are bearish for the stock as it could pullback to retest $15.68. So far the technical daily chart is still showing buy signal with stock trading above the major 5moving averages. Uptrend still relatively intact. The stock ended the day mixed but with a positive bias. I’m still bullish on the stock.

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Research In Motion (RIMM) had a strong bounce off the 66.56 level accompanied by a nice pickup in volume. Hopefully that trend continues. The price may rise to the 70-71.50 range in the short-term.

Other Stocks to Watch :

Today’s candlestick pattern was a Bullish Engulfing

AUY - YAMANA GOLD INC
NIHD - NII Holdings Inc
FL - Foot Locker Inc
MBT - MOBIL TELESYSTEMS
TXRH - TEXAS ROADHOUSE INC
DV - DEVRY INC
LOOP - LOOPNET INC
EVEP - EV Energy Partners LP
EXK - ENDEAVOUR SILVER
SPWRB - SunPower Corp
PETS - Petmedexpress.com Inc
FCN - FTI Consulting Inc
BPZ - BPZ Resources
KR - KROGER CO

Today’s candlestick pattern was a Bearish Engulfing

CTIC - Cell Therapeutics
USB - US Bancorp
AET - AETNA INC
AMAT - Applied Materials
ALU - ALCATEL
HD - HOME DEPOT INC
COMS - 3Com Corporation
GPS - GAP INC
V - VISA Inc
WLP - Wellpoint Inc
CAT - Caterpillar Inc
PEP - PEPSICO INC
LUV - SOUTHWEST AIRLINES CO
MFA - Mfa Financial
SWKS - SKYWORKS SOLUTNS
GGB - GERDAU USA
ADI - ANALOG DEVICES INC
SYY - SYSCO CORP
MOS - Mosaic Co
UPS - UPS
QSFT - Quest Software, Inc.
AMT - AMERICAN TOWER CORP
SVNT - SAVIENT PHARMS
NSC - NORFOLK SOUTHERN CORP
ALD - Allied Capital Corp
KMB - KIMBERLY CLARK CORP
THQI - THQ Inc.
RRC - Range Resources Corp
DF - DEAN FOODS INC
BEBE - bebe stores, inc.
HNT - Health Net Inc
IRBT - IROBOT CORPORATION
PGN - Progress Energy Inc
UQM - Unique Mobility Inc
BEAT - CardioNet Inc
MDCO - Medicines Company

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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