Trade Ideas: FORM, RMBS, TLAB, YHOO, SIRI

Rambus Inc. (NASDAQ:RMBS) – The stock on Friday has seen some minor profit taking and an orderly pullback to the support level around $14.50. I want to keep an open mind here about what could possibly happen next. Honestly, I think we could see two different scenarios: 1 – Bounce off this new support level of $14.50 and head higher or 2- The stock retrace a little lower to the 20 day MA at $13.77 and then bounce higher. In either case, as long as we do not see large selling pressure in the next few days, I think its safe to say this is a dip that should be bought for bulls. From a technical standpoint, the stock has lots of room to run if it clears $16.

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Yahoo (YHOO) is one of my favourite stocks to invest right now. The stock had an amazing rally in the past couple of weeks. Having discussed this stock a couple of days back, this stock has broken some of the targets that was discussed last time. Volumes are still strong and the momentum looks to be still favoring a strong move as the decline was extremely small. The MACD is on the buy zone and RSI is rocking upwards given the strong price movement in the past couple of days. The stock has an upside potential of another 20% to $18.83 if it breaks $15.84 mark comfortably. Yahoo is takeover candidate and share prices are expected to reach $20 in a very near future.

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Tellabs, Inc. (NASDAQ:TLAB) is seeing some positive movement in its share price over the past four trading sessions. There are some buy signals indicated from MACD and RSI. However, the most interesting for this stock is in the Accumulation/Distribution chart. This is the longest upward that the stock has seen in sometime. Given the current stock levels, it’s important for it to break $4.65. If it breaks this level, then it can break $4.87.

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I posted on twitter about how I see FormFactor, Inc. (NASDAQ:FORM) as a decent swing long candidate and decided to illustrate what I have been seeing. The stock cleared the downtrend and now is consolidating. The accumulation/distribution is showing some strength in this movement, which a good sign as investors are not using this movement to get out of the stock. The targets for FORM would now depend on the next movement in this stock. It has to break its 20-day SMA and possibly the $7 mark before the movement is a confirmed one. Stay tuned.

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Sirius XM Radio Inc. (NASDAQ:SIRI) seems to be forming a smart little bullish rounding bottom. So, technically, the earlier bottom can be considered as a support. However, the up move on lower volumes is not too convincing. The stock will face resistance from the confluence point of the 20 day and 50 day EMAs. So, we’ll need to observe the stock closely in the near term. The technical indicators were beginning to look really bearish, but there are signs of a turnaround. The slow stochastic has bounced up from the oversold zone and the MACD has started to rise, though it is in the negative zone and below the signal line. The RSI stopped short of dropping into the oversold zone and is moving sideways. So, let’s keep an eye on her as i think momentum will pick 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 325 Articles

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

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