Stocks in Play for August 11 (AMD, APWR, CIEN, SIRI)

A-Power Energy Generation Systems (APWR) is trying to steady itself around the support at $8. A fall below this level will make the short-term outlook negative again and it will pave the way for a fall to $7.76. Hold the stock with a stop at $7.96.

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Sirius XM Radio (SIRI) – The stock didn’t make significant movement today, closing at $1.01. Overall price still consolidation in range area of 1.10-0.90. The bias remains neutral at this point. From a technical perspective, there are two technical key levels that must take place in this situation to give us clearer direction, a break above the $1.10 confirming bullish reversal scenario towards 1.20/1.25 or a break below 0.90 area to confirm bullish failure. A Break below this area could trigger further bearish pressure re-testing the 200-day moving average. On the other hand, a break above 1.10 area should be seen as a serious threat for the stock to test the highs of the year.

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Advanced Micro Devices (AMD) broke down today under support at $6.96 on strong volume. From a technical standpoint, the medium-term trend is still weak as the stock is still below 50-day moving average with the moving average keeps falling. The stock needs to close above $7 in order to alleviate the negative near term view. If the stock fails to move above this level, it can decline to $6.36 area.

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Ciena Corporation (CIEN) seems to be forming an ascending triangle here, but it is still too early for a breakout and anything can still happen. Just watchout for the support line, the formation of a higher low is also good news for this stock. Keep an eye on CIEN as it is starting to tick up.

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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 324 Articles

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

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