Stock Picks For This Week: Bank Of America, Celera And JDS Uniphase

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Celera (CRA) broke the downtrend line on Friday and could eventually rally up next week. The new resistance is $6.82, which was the high of August. The technical daily chart shows the stock is due for recovery as MACD is near the neutral zone and K line is on top of D line. Keep watching this stock on Monday because it could make a move up to the $6.80 range soon.

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Bank of America (BAC) has been hanging around the last few days. The stock has been trying to make an upside move, but the weak volume has been holding it back. I’m watching BAC on Monday and have set resistance at $17.71. BAC has been in a slowly decreasing trading channel, which is giving us the notion that the stock is going to make a strong upside move. The technical daily chart above shows the momentum indicators have turned up and the RSI and MACD are on the rise. KD line is also indicating upward swing. A close above 17.71 would have positive implications and could push the stock to the 18-18.24 range.

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JDS Uniphase (JDSU) - The daily chart of the JDSU shows that it has been trading in an uptrend channel since April this year. Price is now at the bottom of the channel, so don’t be surprised if we attempt a rally from this low channel line. JDSU pulled back to support on Friday and should set up for its next upside move. The resistance level stays at $6.99, which is the 13-day moving average. Keep watching JDSU for the next few trading sessions.

Other Stocks to Watch:

Friday’s candlestick pattern was a Bullish Engulfing

CSCO - Cisco Systems, Inc.
WFC - WELLS FARGO & CO
MU - MICRON TECHNOLOGY INC
TXN - TEXAS INSTRUMENTS INC
HPQ - HEWLETT-PACKARD CO
BRCM - Broadcom Corporation
RMBS - Rambus, Inc.
STX - Seagate Tech
SCHW - CHARLES SCHWAB CORP
ALTR - Altera Corporation
WYE - WYETH
BK - Bank Ny Mellon
GLW - CORNING INC
DIA - DIAMONDS Trust
CY - CYPRESS SEMICONDUCTOR
MON - Monsanto
XLNX - Xilinx, Inc.
INTU - Intuit Inc.
ADI - ANALOG DEVICES INC
BCRX - BioCryst Pharmaceutical
ATML - Atmel Corporation
RHT - Red Hat, Inc.
PGN - Progress Energy Inc
ADCT - ADC Telecommunications
ATHR - ATHEROS COMMUN INC
CHKP - Check Point Software
DKS - DICKS SPORTING
BCSI - Blue Coat Systems Inc
ORI - OLD REPUBLIC INTL CORP
NOC - NORTHROP GRUMMAN CORP
JDSU - JDS Uniphase Corportion
STAR - Starent Networks Corp
NLS - Nautilus Inc
MERX - Merix Corporation
ILMN - Illumina, Inc.
CTV - COMMSCOPE INC
INFA - Informatica Corp
FFIV - F5 Networks, Inc.
ZHNE - Zhone Technlgs
HBC - HSBC Holdings PLC
ARW - ARROW ELECTRONICS INC
STM - STMicroelectronics NV
MSCC - Microsemi Corporation
GRMN - Garmin Ltd
VRGY - Verigy
SHLD - KMart 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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