Trade Ideas for Next Week: AAPL, JDSU, PCLN Incorporated (PCLN) broke out to new highs today on 1.5x the daily average volume. The stock has been on fire since July 2010. It’s hard to predict how far the momentum will take the stock. If you want to ride the uptrend as long as possible, you can hold the stock with a trailing stop of 10 per cent from the peak or its 50-day mvoing average. I’m using today’s high of $469.74 as resistance for Monday. A break above that area could trigger further bullish momentum and keep the bullish scenario intact. The outlook for PCLN stays robust until it stays above $420.65. Fresh buys can be initiated with a stop at $451.33 ( 10 DMA ).

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Apple Inc. (NASDAQ:AAPL) had a moderate bullish momentum this week. On daily chart we can see that the bullish power failed to break the $363.01 key level to the upside. However, the bias is bullish in nearest term targeting $364.90 resistance area. Immediate support is seen at $348.60 area. Watch AAPL closely next week and be ready once the stock breaks through resistance.

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JDS Uniphase Corporation (NASDAQ:JDSU) had a strong move today with very nice volume. The stock hit a high of $27.52, which is resistance for the follow through move. The technical chart shows the stock is in a bull market rally as MACD is on top of signal line and RSI moving upwards. In addition, the medium term trend is also bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. Next resistance is now seen at $28.16. You should watch this stock closely on Monday.

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GigaMedia Limited (NASDAQ:GIGM) had a significant bullish momentum this week but the price is now struggling around the trend line resistance indicates critical technical point. Consistent move above $1.21 ( the trend line resistance ) could be a beginning of a new technical bullish reversal at least testing 1.36/1.40 area. Immediate support is at $1.14 followed by $1.10. ADX is indicating a bullish outlook with +DMI cross above and the stochastic shows also bullish crossover.

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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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