Stock Picks For Thursday: Applied Materials, JDS Uniphase And GigaMedia Limited

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GigaMedia Limited (GIGM) was one of the stronger stocks on Wednesday, as the stock closed up $0.21 on 2x normal daily volume. GIGM hit a high of $4.22, which is resistance for Thursday’s move. The stock showed strength throughout the day and should continue this upside move. On the technical side, the chart looks very good here. The stock broke through $4 resistance and is trading above its 10 MA. Stochastics and the RSI are now bullish signalling that sideways to higher prices is possible near-term. The price can easily move up to 4.50-4.65 resistance in the short-term.

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JDS Uniphase (JDSU) has been staging a nice recovery, after the stock sold off hard in late October. Resistance is $7.25, which was Wednesday’s high of the day. There were some big buyers in JDSU on Wednesday, so watch the stock again on Thursday.

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Applied Materials (AMAT) is trading up after hours on Wednesday, as the company released better then expected earnings, as well as raising guidance. I expect the stock will gap on Thursday, as buyers will drive the stock higher. Resistance is $13.71, which are recent highs. Watch the stock and get ready to buy once it breaks through resistance. The technical daily chart is showing some bullish bias.

Other Stocks to watch - ( Pattern is Bullish Engulfing )

YHOO - Yahoo!
EWBC - East West Bancorp
AGO - ASSURED GUARANTY LTD
OCLR - Bookham Technology plc
REV - Revlon Inc
SUSQ - Susquehanna
SIMG - Silicon Image, Inc
PMC - Pharmerica Corp
SYPR - Sypris Solutions, Inc.
PWEB - Pacific Webworks Inc
SSW - SEASPAN CORPORATION
EONC - eOn Communications
AWH - ALLIED WORLD
AFAM - Almost Family Inc
PENGF - Primary Energy Corp
XING - Qiao Xing Universal
PRVT - Private Media Group
TBV - STRATEGIKA INC
EVF - EATON VANCE SENIOR
FNDT - Fundtech Ltd.
TLK - P T TELEKOM INDONESIA
ISG - ING GROUP PERP SECS

Other Stocks to Watch - ( Pattern is Bearish Engulfing )

MRK - Merck & Co
AES - A E S CORP
HAL - HALLIBURTON CO HLDG CO
ADM - ARCHER DANIELS MIDL
TGT - TARGET CORP
PM - Philip Morris
CDNS - CADENCE DESIGN SYS INC
LTD - LIMITED INC
FTR - Citizens Communications
ACI - ARCH COAL INC
MTL - MECHEL OAO
RRI - Rri Energy Inc
CNP - CenterPoint Energy Inc
DE - DEERE & CO
GT - GOODYEAR TIRE
URBN - Urban Outfitters, Inc.
V - VISA Inc
HERO - HERCULES OFFSHORE
CI - C I G N A CORP
JBL - JABIL CIRCUIT INC
UL - Unilever PLC
DF - DEAN FOODS INC
EXPE - EXPEDIA INC
WFMI - Whole Foods Market
HES - AMERADA HESS CORP
KMB - KIMBERLY CLARK CORP
EXC - EXELON CORPORATION
GSK - GlaxoSmithKline PLC
FST - FOREST OIL CORP
LM - LEGG MASON INC
PWE - PENN WEST ENERGY TRU
TIF - TIFFANY AND CO
ARIA - ARIAD Pharmaceutical
GOL - GOL LINHAS AEREAS
DKS - DICKS SPORTING
LPX - LOUISIANA PACIFIC CORP
CMC - COMMERCIAL METALS CO
OI - OWENS ILLINOIS INC
FE - FIRSTENERGY CORP
OMX - OfficeMax Inc
KMX - CarMax Inc
ESRX - Express Scripts, Inc.
DHR - DANAHER CORP
RAI - RJ Reynolds Tobacco
QTWW - Quantum Fuel System
FRPT - Force Protection Inc

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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