Stock Picks For Friday: Ciena And Nvidia

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Stock Picks For Friday: Ciena And Nvidia

By Antonio Costa on October 2, 2009 | More Posts By Antonio Costa | Author's Website

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The techinal daily chart shows that it is still to early to say that the downtrend has ended. Shares of Nvidia (NVDA) have been trading below both 5 day and 10 day moving average, a very bearish sign in short-term. Negative MACD also indicates that the stock is a sell. Please beware of the KD line which is now at 12 and could signal a buy when it begins to rise.

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Ciena (CIEN) - The short term rally ended in the middle of september when the uptrend failed to break resistance at $16.50. Since then RF Micro Devices has been losing ground and has lost more than 10% or $1.50. Expect the short-term downtrend to test support at $14.30. Given the current market climate, this scenario is likely. If CIEN breaks this support, the bottom could be around $12.22.

Other Stocks to Watch :

Today’s candlestick pattern was a Bullish Engulfing

COP - ConocoPhillips
TWX - AMERICA ONLINE INC
RNWK - RealNetworks, Inc.
HGG - HHGregg Inc
ARAY - Accuray Inc
RST - Rosetta Stone

Today’s candlestick pattern was a Bearish Engulfing

TER - TERADYNE INC
DTV - Directv
AUY - YAMANA GOLD INC
VMED - Virgin Media Inc
SWKS - SKYWORKS SOLUTNS
JNPR - Juniper Networks
SLW - Silver Wheaton
TRV - The Travelers Co
TSO - Tesoro Corp
MFA - Mfa Financial
NVLS - Novellus Systems, Inc.
EOG - EOG Resourses
FDX - FedEx Corporation
DNDN - Dendreon Corporation
PX - PRAXAIR INC
MFE - Network Associates
ILMN - Illumina, Inc.
IBN - Icici Bank Ltd
APOL - Apollo Group, Inc.
SAP - Sap Ag
DNN - Denison Mines
CEPH - Cephalon, Inc.
CS - CREDIT SUISSE GROUP
RY - ROYAL BANK OF CANADA
NTES - Netease.com, Inc.
DVA - DaVita Inc
INFA - Informatica Corp

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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