Stock Picks For Tuesday: Research In Motion And Salesforce.com

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Stock Picks For Tuesday: Research In Motion And Salesforce.com

By Antonio Costa on October 27, 2009 | More Posts By Antonio Costa | Author's Website

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Research In Motion (RIMM) - From my point of view I think RIMM may break down here. This stock is slowly but steadily coming down on each passing day. Up/Down volume pattern indicates that the stock is under Distribution. The stock closed fractionally above the major support at $65, but any close below this level could have further negative implications for the stock, and a move to $60 cannot be ruled. At this stage the stock is still trading below both 13 day and 50 day moving average showing weakness on the stock. In addition, falling MACD, now below 0, also indicates bearish trend. Stay tuned on it.

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Salesforce.com (CRM) is pulling back after recent strong move up. If it does not catch support here on its 20 day moving average, look for support at the $58,93. The technical daily chart above shows that MACD fast line has fallen below slow line which could mean that this stock is losing momentum. Overall still bullish, but negative momentum is on the rise. Stay tuned on Salesforce.com.

Other Stocks to Watch - ( Pattern is Bullish Engulfing )

ARCC - ARES CAPITAL CP
YRCW - Yellow Roadway
IACI - IAC InterActiveCorp
ASBC - Associated Banc-Corp
SAPE - Sapient Corporation
HSNI - HSN Inc
MDOR - MAGNUM D’OR RES INC
KIRK - Kirklands Inc
NNI - NELNET INC

Other Stocks to Watch - ( Pattern is Bearish Engulfing )

BSX - BOSTON SCIENTIFIC CORP
AET - AETNA INC
MTW - MANITOWOC CO INC
LMT - LOCKHEED MARTIN CORP
IVN - IVANHOE MINES LTD ORD
ACN - Accenture Plc
NYT - New York Times Co
PSA - PUBLIC STORAGE INC
AGCO - A G C O CORP
INFY - Infosys Technologies
EV - EATON VANCE CORP
URRE - URANIUM RESOURCES INC
RPRX - Zonagen, Inc
LTXC - LTX Corporation
QSFT - Quest Software, Inc.
WIT - Wipro Ltd
QGEN - Qiagen N.V.
CYN - CITY NATIONAL CORP
SFSF - SuccessFactors Inc
GPN - GLOBAL PAYMENTS INC
AZC - AUGUSTA RESOURCE CP

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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