Trade Ideas for Tomorrow: BIDU, ERTS, GLW

Electronic Arts Inc. (NASDAQ:ERTS) made a strong upside reversal today. The technical chart below suggests that stock might find now resistance at $15.70, its 50-day MA. Only a close above this level would suggest further upside. I think the stock is due for recovery as %K line has crossed on top over %D line. The stock needs to close above this level in order to alleviate the negative near term view. Remain invested with a stop loss at $14.63.

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Baidu.com, Inc. (NASDAQ:BIDU) released better then expected numbers after Monday’s close, which should lead the Internet sector bouncing on Tuesday. The stock is blowing up in after hours trading. Looking at the daily chart it displays a short-term downtrend line broken to the upside with a nice volume. In addition, KD line shows positive signals as %K line is rising on top over %D line, and RSI continue moving up. Stock as a major resistance at $115.04. I suspect the stock may continue to appreciate over the coming weeks after BIDU surprising quarterly results that blew away analysts expectation.

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Corning Incorporated (NYSE:GLW) broke out to record highs today. This breakout on normal volume did not convince me yet. At this point we may need to pull back and retest $21.122 to reset the overbought conditions and provide some room to develop a new trend up. Technicaly chart shows the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average. Stay tuned on it.

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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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