Stock Market Ideas for Thursday – JDS Uniphase Corporation and Cell Therapeutics, Inc.

Posted on August 26, 2009 at 7:03 pm
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Courtesy of AC Investor

Chart courtesy of www.stockcharts.com ( click to enlarge )

There appears to be marginal downside risk from prevailing levels. JDSU is going to be very interesting to watch as the stock hit a new 52-week high. Resistance is now $6.86, which was Wednesday’s high of the day. You want to keep a close eye on JDSU as it has the potential to make big upside moves. The stock has a good looking stock chart price broke out from the horizontal resistance mark around $6.35 on heavy volume. This breakout suggests a possible move to $10.
Chart courtesy of www.stockcharts.com ( click to enlarge )
CTIC failed to close above the resistance level of $1.83. This resulted in a sharp drop on Monday. The recent price patterns suggest that the downward move witnessed on Monday could continue. A decline to the 1.50-1.52 range appears likely. A close below these levels would impart further weakness and would push the stock to the 1.35-1.4 range. On the other hand, the weak outlook would be negated on a close above 1.64. At this stage, keep an eye on the $1.52 ( 50 dma ) level for signs of support.
Other Stocks to Watch :

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Rambus – RMBS ( Record Price Breakout )
Wells Fargo & Company – WFC ( Bullish Engulfing )
AT&T Inc. – T ( Bullish Engulfing )
Novavax, Inc. – NVAX ( Bullish Engulfing )
Sequenom, Inc. – SQNM ( Bullish Engulfing )
Seagate Technology – STX ( Bearish Engulfing )
Ambac Financial Group, Inc. – ABK ( Bearish Engulfing )
Johnson & Johnson – JNJ ( Bearish Engulfing )
Interpublic Group of Companies, Inc. – IPG ( Bearish Engulfing )

Cardionet Inc – BEAT ( Unusual Call Option Volume )
Red Hat, Inc. – RHT ( Unusual Call Option Volume )
ViroPharma Incorporated – VPHM ( Unusual Call Option Volume )
Forest Oil Corporation – FST ( Unusual Call Option Volume )
QLogic Corporation – QLGC ( Unusual Call Option Volume )
Fred’s, Inc. – FRED ( Unusual Put Option Volume )
A-Power Energy Generation Systems, Ltd. – APWR ( Unusual Put Option Volume )
Regions Financial Corporation – RF ( Unusual Put Option Volume )
Diageo plc – DEO ( Unusual Put Option Volume )

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