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Sunday 6 November 2011

Trading ideas for next week

Long:
AMP: short term goal 200d MA at around 49.50 - 50
NVLS: has to break its short term down-trend first, long term uptrend is now at around 32 (latest stop)
TLAB: short-term uptrend vs. mid-term downtrend. if downtrend will break, TLAB is a reversal-candidate
CSCO: definitely a buy! right now it's in the upper range of its new uptrend-channel but is also running in a rising short term wedge. waiting for a small pullback at around its 200d MA. this however might not happen if markets are generally going up.
GNW: a buy above 7.40. there is a chance that it reaches its 200d MA at around 9 and its mid-term downtrend at around 10.
FFIV: just broke its short-term downtrend. a buy above 110.5

Short:
FIS: recently a GAP to the downside with high volume, running into a short-term rising wedge, closing gap. a backtesting of the recent lows at 23.10 very likely. a sell below 25.10
RRD: is reaching its GAP level at 16.80 after a downside GAP a couple of weeks ago. this should serve as resistance. a sell right now. a stop should be set at around 17.
MCHP: for me a good short candidate. rising wedge, huge volumes to the downside. jumped up on friday after a UBS buy recommendation.

good luck



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