Stock Picks for Friday – Ciena and Nvidia

Posted on October 1, 2009 at 7:51 pm
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Ac Investor

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The techinal daily chart shows that it is still to early to say that the downtrend has ended. Shares of Nvidia have been trading below both 5 day and 10 day moving average, a very bearish sign in short-term. Negative MACD also indicates that the stock is a sell. Please beware of the KD line which is now at 12 and could signal a buy when it begins to rise.
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CIEN – The short term rally ended in the middle of september when the uptrend failed to break resistance at $16.50. Since then RF Micro Devices has been losing ground and has lost more than 10% or $1.50. Expect the short-term downtrend to test support at $14.30. Given the current market climate, this scenario is likely. If CIEN breaks this support, the bottom could be around $12.22.
Other Stocks to Watch :

Today’s candlestick pattern was a Bullish Engulfing

COP – ConocoPhillips
TWX – AMERICA ONLINE INC
RNWK – RealNetworks, Inc.
HGG – HHGregg Inc
ARAY – Accuray Inc
RST – Rosetta Stone

Today’s candlestick pattern was a Bearish Engulfing

TER – TERADYNE INC
DTV – Directv
AUY – YAMANA GOLD INC
VMED – Virgin Media Inc
SWKS – SKYWORKS SOLUTNS
JNPR – Juniper Networks
SLW – Silver Wheaton
TRV – The Travelers Co
TSO – Tesoro Corp
MFA – Mfa Financial
NVLS – Novellus Systems, Inc.
EOG – EOG Resourses
FDX – FedEx Corporation
DNDN – Dendreon Corporation
PX – PRAXAIR INC
MFE – Network Associates
ILMN – Illumina, Inc.
IBN – Icici Bank Ltd
APOL – Apollo Group, Inc.
SAP – Sap Ag
DNN – Denison Mines
CEPH – Cephalon, Inc.
CS – CREDIT SUISSE GROUP
RY – ROYAL BANK OF CANADA
NTES – Netease.com, Inc.
DVA – DaVita Inc
INFA – Informatica Corp

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