Trade Ideas for Tomorrow: NVTL, REE, RMBS, VMW

I continue to watch Rare Element Res Ltd (AMEX:REE). The volume is still large so it could potentially break out again at any moment. Further rally could be seen to retest $17.89 medium-term resistance. As long as the stock stay above $14.96 area, the bullish scenario is still intact. Technical chart shows bullish sign with MACD above the signal line and RSI above its 50% level. Next targets for the stock are $16.10 and $17.10. Only a close below $14.70 reverses the current short-term uptrend.

(click to enlarge)

VMware, Inc. (NYSE:VMW) continues to hang in there after breaking up through $82.50 on Friday. Excellent strength relative to broad market. The stock has been strong buy volume the past two sessions. I would be a buyer of the stock if it breaks $87.82.

(click to enlarge)

Novatel Wireless, Inc. (NASDAQ:NVTL) – Steep downtrend and trying to bottom. Look for a move above $5.25 to get involved on long side. If not, stop out below $5. The volume has been very light but it is still a bearish signal.

(click to enlarge)

Rambus Inc. (NASDAQ:RMBS) continues to trade in a tight range between $19.29-$19.75. The near-term outlook would depend on the price movement in the next few days. A close above $19.75 would impart bullishness and would help the stock move to the $20-$20.62 band. A drop below $19.29 would have negative implications that would push the stock down to the $19.07-$18.82 range. Fresh exposures may be considered once the stock stabilises and gets into an upward trending mode.

(click to enlarge)

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

Be the first to comment

Leave a Reply

Your email address will not be published.