March 22, 2008 at 06:03 AM EDT
Stock to watch next week - XMSR, CNXT, JASO, JNPR, AMZN, GOOG
Chart courtesy of stockcharts GOOG is correcting the entire up-move recorded in November of 2007. The stock is moving in a tight range between $412 and $450. In other words, the stock is trying to stabilize itself around the long-term support. Hold the stock with a stop at $412. Buy point would be on the day it blows through $450 on heavy volume. Chart courtesy of stockcharts AMZN - The stock is recovering nicely from its recent decline. Technically in a short uptrend, but hard to intepret the next possible move. From the chart, looks like the next major resistance is at $75. Chart courtesy of stockcharts JNPR - Juniper has been in a corrective phase since the beginning of this year along with the rest of the US equities. Looking at the daily chart above, it shows possible new rally as K line has crossed on top over D line. However, we should keep in mind, the stock is still in bear market as MACD and signal line are both below 0. For this reason, it is better to wait and see if the stock can break above its 20-day moving average. Chart courtesy of stockcharts JASO - The stock is currently consolidating in a band between $16.33 and $14. The next support on the chart is at $14. Investors can hold the stock with a stop at $14. If this level breaks, the stock could slide lower to $13.32 or even $12.17. Short-term rallies will encounter resistance at $15.77. Chart courtesy of stockcharts CNXT confirmed my previous analyse. A closer look at the daily chart it displays a downtrend line broken to the upside with a respectable volume. From here we can expect a run to the $0.57 area and from there we could see an explosive upsurge to $0.78 and better. Stay tuned. Chart courtesy of stockcharts XMSR broke downtrend line resistance today with heavy volume. Expect a move to the $13 area in the next days. RSI is pointed up and a positive MACD Cross over has occurred, generating a buy signal. 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. That's All !!!! Happy Easter !!! AC
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