Stocks in Play for June 30 (GIGM, MSFT, NOK)

Shares of GigaMedia (GIGM) soared 12.44% or 27 cents to $2.45 per. The technical daily chart shows the stock is in a rally as K line is rising on top of D line as the price is back above 20-day moving average. In addition, the short-term downtrend line has been broken. At this stage, we can expect to see higher prices in the weeks to come. Another bullish indicator is the MACD which has made a cross over and bullish momentum has returned to the stock. The stochastics have turned up and RSI is now back in a neutral position. All short-term indicators are in upward path.

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Shares of Nokia (NOK) have been in a steep decline since April, falling more than 45% from its highs near $16 per share. The technical chart pattern does not inspire confidence and NOKIA’s stock could continue its downward trajectory. In addition, the daily price chart also shows a dead cross where the 50-day moving average crossed below the 200-day moving average, signaling the beginning of a bear market trend. With this in mind, any rally attempt must be considered a bear market corrective rally and not the start of a new bull market trend. Thus, the major direction of this stock is still in the downward direction. Next support for Nokia shares is only at $7.77.

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Microsoft (MSFT) stock is like a falling knife, it keeps falling and falling. Technically, the chart looks horrible and the short-term trend is bearish, but the stock is now in oversold conditions and may rise back soon. Stay tuned.

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New 52-week Low stocks

XOM – Exxon Mobil PDE – Pride International
YHOO – Yahoo! BKS – Barnes & Noble
RIMM – Research In Motion COCO – Corinthian Colleges
QCOM – QUALCOMM IM – Ingram Micro
NOK – Nokia TIVO – TiVo Inc.
WAG – Walgreen MFE – McAfee
SCHW – The Charles Schwab Corporation ORIT – Oritani Financial
AKS – AK Steel Holding AFFY – Affymax
ERTS – Electronic Arts CCJ – Cameco
WU – The Western Union MYGN – Myriad Genetics
AMTD – TD Ameritrade ES – EnergySolutions
MON – Monsanto SONC – Sonic
JCP – J.C. Penney WDR – Waddell & Reed Financial
PBCT – People’s United Financial TDW – Tidewater
SVU – SUPERVALU BRKL – Brookline Bancorp
KBH – KB Home VE – Veolia Environnement
JNS – Janus Capital Group ONXX – Onyx Pharmaceuticals
MOS – The Mosaic Company ESI – ITT Educational Services
MFC – Manulife Financial TM – Toyota Motor
APOL – Apollo Group IPI – Intrepid Potash


Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.

About Antonio Costa 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

Visit: AC Investor Blog

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