Stocks in Play for July 8 (RMBS, SIRI, THQI)

Shares of Rambus (RMBS) rose 3.7% or 64 cents to 17.94 cents per share. In short-term, the chart is showing weakness as both 20-day and 50 day moving average are still going downward. However the stock is trying to regain the ground that it lost last month. From a technical perspective, RMBS has the opportunity to start new rally as %K line is back above %D line. In addition, the RSI is starting to move back up from a oversold indication. This fact gives the stock a lot of room to rally before an overbought condition is threatened. I still like this stock and will continue to follow until it makes a move in either direction. Resistance is $18. If RMBS can break through resistance, the stock will move quickly, so watch it closely on Thursday.

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Sirius XM Radio (SIRI) was one of the most active stocks and gained 6.37% to $0.999. Today, the stock traded in the range of $.94-$1.01 on a low volume of 71.67 million shares as compared to its daily average volume of 100 million shares. The technical daily chart looks very interesting, as the stock could break out very soon. As I said in the previous analysis, resistance in SIRI is $1.13 which is the top of the consolidation range. Once the stock breaks through resistance, we should see a strong upside move as the stock moves to test 52-week highs of $1.25. Its technical indicators are improving significantly. MACD histogram bars are slowly picking up while RSI is neutral at 48.98. Watch SIRI closely.

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The chart is showing that THQ Inc. (THQI) is on a bounce back rally after it lost more than 50% since April ‘s highs. Although both 50-day and 200 day moving average are showing weakness, KD line is indicating a possible new upward swing.

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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 325 Articles

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

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